Audible is set to reduce its workforce by 5 percent. Following substantial staff reductions at Twitch and Prime Video, Amazon is now implementing cuts at its audiobook and podcast platform, Audible.
Reducing Workforce
The audiobook and podcast division under Amazon's umbrella, Audible, has initiated a workforce reduction, resulting in the layoff of approximately 5% of its employees, which translates to just over 100 staffers.
The Verge reported that this downsizing aligns with a broader trend within various Amazon entities, including Prime Video, Amazon MGM Studios, and Twitch, which have recently implemented substantial layoffs affecting several hundred workers.
The announcement of these cutbacks was made by Audible CEO Bob Carrigan through an audio memo addressed to employees on Thursday. Notably, the layoffs are specifically targeted at non-content teams within Audible.
The recent workforce reductions at Audible coincide with additional layoff announcements within Amazon's Prime Video and MGM Studios division this week.
The company is streamlining operations by trimming hundreds of positions in areas that are deemed less productive. In a parallel move earlier this week, Twitch, another streaming platform under Amazon's ownership, declared its intention to cut over 500 jobs as part of a cost-saving initiative aimed at enhancing profitability.
Streamlining, Enhancing Efficiency
Carrigan emphasized that the decision to implement these layoffs was not taken lightly and involved considerable consideration.
He stressed that streamlining and enhancing efficiency is imperative for Audible's current and future operations, ensuring the continued delivery of top-tier audio storytelling to a global audience.
In 2023, Audible experienced a notably robust performance, characterized by a "strong year," as indicated by Carrigan.
Despite the positive trajectory, CNBC reported that Carrigan acknowledged the necessity of workforce adjustments to ensure the company's sustained success in the face of an increasingly challenging business landscape.
Expressing empathy for those affected by the layoffs, Carrigan recognized the impact on both departing employees and those remaining within Audible.
He extended gratitude to those leaving for their valuable contributions, acknowledging the difficulty of the situation. Carrigan reassured the workforce that these decisions are geared toward fortifying the business for long-term resilience and success.
Assuming the role of Audible's CEO in 2019, Carrigan succeeded Don Katz, the original founder of Audible in 1995, who transitioned from chief executive to the position of executive chairman.
Back in 2008, Variety reported that Amazon acquired Audible, headquartered in Newark, New Jersey, in a deal valued at approximately $300 million.
The extensive Audible catalog encompasses over 850,000 titles, incorporating a diverse array of audio originals, along with audiobooks and podcasts from various studios, entertainers, as well as publishers in print, audio, and magazine formats.
Acquiring Audible
Back in 2008, Amazon completed the acquisition of Audible, a platform renowned for its extensive collection of audiobooks and podcasts, in a deal amounting to approximately $300 million.
While Audible has largely operated independently within the Amazon umbrella since the acquisition, it has not been immune to the sweeping layoffs taking place across its parent company.
Starting at the close of 2022 and extending into 2023, Amazon executed its most significant round of layoffs, affecting over 27,000 positions across nearly every facet of the organization.
