Business

IIE Digital Desk: There seems to be no sign of the layoffs wave abating in 2024. Two of the biggest global tech companies Google and Amazon have announced yet another round of layoffs.

Google Layoffs 2024: Google is laying off hundreds in various divisions. The job cuts include workers in voice-based Google Assistant, augmented reality hardware, and the central engineering organization, reported Bloomberg. This aligns with the company's ongoing efforts to streamline expenses.

"A few hundred roles are being eliminated in DSPA with the majority of impacts on the 1P AR Hardware team. While we are making changes to our 1P AR hardware team, Google continues to be deeply committed to other AR initiatives, such as AR experiences in our products, and product partnerships," reads Google's statement.

Amazon Layoffs 2024: In a parallel move, Amazon is also reportedly layings off several hundreds of employees in its Prime Video and MGM Studios segment. In an internal memo sent to Amazon employees on Wednesday announced that the reason for the reduction is to reduce or discontinue investments in certain areas while increasing investment and focus on content that deliver the most impact.

"Throughout the past year, we've looked at nearly every aspect of our business with an eye towards improving our ability to deliver even more breakthrough movies, TV shows, and live sports in a personalised, easy to use entertainment experience for our global customers," reads the memo by Hopkins .

"As a result, we've identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact. As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organisation."

Twitch, a livestreaming platform owned by Amazon, is also reportedly cutting 35% of its workforce, approximately 500 employees. Last year, the online retail behemoth cut more than 27,000 jobs as part of a wave of US tech layoffs.