Amazon To Focus On Delivering Free Games, Plans To Slash 'Just Over' 180 Jobs
Portfolio Pulse from Ananya Gairola
Amazon Inc. (NASDAQ:AMZN) is refocusing its gaming strategy to prioritize delivering free games through Prime Gaming, resulting in the elimination of over 180 jobs and the shutdown of Crown Channel and Game Growth initiatives. The company is also concentrating on upcoming game launches such as 'Throne and Liberty' and 'Blue Protocol', as well as future projects like 'Tomb Raider' and 'The Lord of the Rings' games. This follows previous layoffs in the video-game division and broader company layoffs due to slow online sales growth and recession concerns.
November 14, 2023 | 4:24 am
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Amazon is streamlining its gaming division to focus on free games for Prime Gaming, leading to over 180 job cuts and the discontinuation of certain initiatives. The company is also preparing for major game releases.
The news indicates a strategic shift in Amazon's gaming division, which could streamline operations and potentially lead to cost savings. However, the impact on the stock price is uncertain as the market may have mixed reactions to job cuts and the refocusing of the gaming strategy. The importance is high due to the potential long-term effects on Amazon's gaming business, but the confidence is not absolute as the market's perception of the restructuring's success is yet to be determined.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100