Audible, an online platform for audiobooks and podcasts owned by Amazon, is reducing its workforce by 5%. This is the third time this week that the e-commerce company has announced job cuts, as the tech industry continues to downsize in the new year.

In a memorandum sent to staff members on Thursday, the CEO of Audible, Bob Carrigan, stated that the company is currently in a favorable position, but is also dealing with a progressively difficult environment.

Carrigan stated that the decision to take this route was carefully considered. However, in order to maintain high-quality audio storytelling for our global customers, we must now focus on becoming more streamlined and efficient. This will be our strategy for the present and foreseeable future.

A representative for Audible refused to disclose the quantity of employees that will be impacted by the reductions.

Audible recently announced layoffs, following similar actions from Amazon’s Prime Video and MGM Studios department. These layoffs are a result of the company’s efforts to trim its workforce and reduce costs in areas that are not meeting expectations. Additionally, Twitch, which is also owned by Amazon, revealed plans to cut over 500 jobs this week in order to become more profitable.

In 2008, Amazon, headquartered in Seattle, acquired Audible for approximately $300 million. Audible is a leading provider and creator of audio books, meditation programs, and podcasts. The company holds a strong position in the audiobook industry and has aimed to attract more customers by offering exclusive content and making notable partnerships. One such partnership is with Higher Ground Productions, a production company established by former President Barack Obama and his wife, Michelle, with whom Audible signed a multiyear agreement.

During the pandemic, tech companies such as Amazon increased their recruitment efforts. However, as inflation and interest rates rose, and their focus shifted to profitability, they started implementing cost-cutting measures.

In late 2022, Amazon began implementing mass layoffs that have affected over 27,000 employees. The most recent job cuts are a continuation of this trend.

On Thursday, a representative from Discord announced that the popular social media platform will be reducing its workforce by 17%, which equates to 170 employees. This decision was made in order to increase flexibility within the company, following a significant increase in hiring during the pandemic.

Several other technology companies, such as Google, IT firm Xerox, and video game software provider Unity Software, have also made announcements about job cuts in the past few days, indicating that the industry is still actively downsizing.

Source: wral.com