The skeptics can continue to find reasons to worry about Amazon if they want to. Still, Amazon stock investors don’t need to worry about the company’s overall growth prospects. Sometimes, adjustments have to be made in certain business units. Amazon Stock Can Still Provide Excellent ReturnsĪmazon is a behemoth that derives revenue from a variety of business divisions. It’s not a reason to get shaken out of perfectly excellent investment opportunities. Amazon and other “Magnificent Seven” businesses might have to trim their workforces here and there in 2024. In 2024, Amazon doesn’t necessarily still need all of those workers on its payrolls.Ĭertainly, Amazon isn’t the only “Magnificent Seven” company to implement layoffs in recent years. A hiring spree ensued, but that was years ago. Amazon experienced rapid expansion soon after the onset of the pandemic. So, Amazon will be just fine even if some of its divisions need to slim down.Īdditionally, Amazon’s latest round of layoffs needs to be put in context. Wedbush analysts predicted Amazon is “on pace to generate $46.5 billion of advertising revenue” this year. In any case, Amazon certainly doesn’t depend on its revenue from Prime Video, MGM Studios and Twitch. This renders the app somewhat useless I reached out to the developer a week ago and heard nothing. Unfortunately, the video export cuts off at about 8 seconds as mentioned by other users. Tactics arent useful if you cannot share them. If Twitch has been unprofitable since Amazon acquired it in 2014, then it’s not a drastic measure to eliminate some jobs at Twitch. Soccer Tactic Board - Apps on Google Play. The company is just doing what needs to be done. In other words, the latest round of layoffs isn’t really a red flag for AMZN stock.

Mike Hopkins, senior vice president of Prime Video and MGM Studios, explained, “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.” Moreover, Twitch CEO Dan Clancy stated that his company is “ meaningfully larger than it needs to be” after years of aggressive hiring. Besides, these job cuts are viewed as necessary. Furthermore, Twitch, which is Amazon’s video-game livestreaming platform will lay off more than 500 workers.Įven when we combine the job cuts at Prime Video, MGM Studios and Twitch, they’re still a tiny part of Amazon’s total workforce. Amazon announced its plans to eliminate several hundred jobs at its Prime Video and MGM Studios divisions. Are the Latest Layoffs a Red Flag for AMZN Stock? So, let’s look into the latest developments and consider what they mean for Amazon stock investors. No matter how you slice it, Amazon is a practically unstoppable force, but this doesn’t mean the company always has to grow its workforce.

The bears and short sellers were wrong about Amazon last year, and some of them lost a lot of money.

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