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☆ Amazon Prime Video’s ad tier has potential to deliver a one-two punch: better shows and more profits
▼ + stars: | 2024-02-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Just weeks after Amazon cut hundreds of jobs across its Prime Video and MGM Studios divisions, the advertisements officially arrived on Prime Video on Jan. 29. This gives Amazon first-hand customer data from Prime members it can leverage for advertisers who want to show ads during Prime Video shows. "While still early days, streaming TV advertising continues to grow quickly," Jassy said on the fourth-quarter earnings call. Additionally, the potential audience for Prime Video is huge – the company has said it has more than 200 million Prime subscribers. Prime Video keeps putting out new movies and shows like the popular "Lord of the Rings", "Reacher", "Mr. & Mrs. Smith", and "Citadel".

Persons: There's, Andy Jassy, —, Jassy, Brian Olsavsky, Cowen, TD Cowen, Canaves, Smith, Peacock, Jim Cramer's, Jim Cramer, Jim Organizations: MGM Studios, Netflix, Disney, Amazon, Amazon Web Services, Walmart, Kroger, Insider Intelligence, Prime, Paramount Global, Walmart –, TV, U.S, Intelligence, National Football League, Football, Nielsen, QR, NFL, Comcast, Miami Dolphins, Kansas City Chiefs, Chiefs, San Francisco 49ers, Super, Paramount, CNBC

☆ Amazon cuts hundreds of jobs in Pharmacy, One Medical units: Read the memo
▼ + stars: | 2024-02-06 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +5 min

Amazon has eliminated hundreds of jobs in its Pharmacy and One Medical divisions, the company confirmed to CNBC. "Unfortunately, these changes will result in the elimination of a few hundred roles across One Medical and Amazon Pharmacy." At the start of this year, Amazon announced cuts in its Prime Video, MGM Studios, Buy with Prime, Twitch and Audible units. Here's the full memo from Lindsay:Hi everyone, The past year has been incredibly exciting for all of our health care businesses, and we're seeing tremendous growth for Amazon Pharmacy, One Medical, and Amazon Clinic. Unfortunately, these changes will result in the elimination of a few hundred roles across One Medical and Amazon Pharmacy.

Persons: Neil Lindsay, Lindsay, Andy Jassy, Brian Olsavsky, Amazon, Neil CNBC Organizations: Amazon, CNBC, Amazon Health Services, Amazon Pharmacy, MGM Studios, Amazon Clinic, Pharmacy, CARE Locations: Amazon's, d50nominations.cnbc.com

☆ Amazon set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon is slated to report fourth-quarter earnings Thursday after the closing bell. In January, Amazon said it would let go of employees across units including Prime Video, MGM Studios, Twitch, Audible and Buy with Prime. In November, Amazon launched "Q," an AI chatbot for businesses, as well as new Trainium chips for AI applications. Discovery 's Max by introducing ads to Prime Video programming. Amazon will discuss the report on a conference call with analysts at 5:30 p.m.

Persons: Andy Jassy, Amazon, Evercore, Jassy's, Brian Olsavsky, Max Organizations: Web, Amazon, MGM Studios, Revenue, National Retail Federation, Netflix, Disney, Hulu, Warner Bros, Citi Locations: Ukraine

☆ Zoom is cutting about 150 jobs, or close to 2% of its workforce
▼ + stars: | 2024-02-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on Sept. 25, 2019. Zoom is cutting about 150 jobs, CNBC confirmed on Thursday, the latest tech company to slash headcount this year as investors continue to push for efficiency. A Zoom spokesperson confirmed the cuts amount to less than 2% of the company's workforce. In addition to Zoom, cloud software vendor Okta announced a downsizing on Thursday, telling employees that it's laying off 400 staffers, or about 7% of its workforce. Zoom shares are down about 10% this year and have dropped almost 90% from their record high in October 2020.

Persons: Eric Yuan, Zoom Organizations: Conference, CNBC, Bloomberg, Microsoft, Google, MGM Studios, Okta Locations: San Francisco, layoffs.fyi

☆ Amazon Scraps Deal to Buy Maker of Roomba Amid Regulatory Scrutiny
▼ + stars: | 2024-01-29 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +1 min

Amazon said on Monday that it was abandoning plans to buy iRobot, the maker of the self-driving Roomba vacuum, after regulators raised concerns the deal would hurt competition. antitrust regulators warned Amazon that they might try to block the deal because it could restrict competition in the market for robot vacuum cleaners. The Federal Trade Commission was also scrutinizing the deal. Amazon, which will pay iRobot a $94 million termination fee, said in a statement that “disproportionate regulatory hurdles” caused it to step away from the deal, which was first announced in 2022. IRobot’s products, which also include robotic mops and air purifiers, were to join a growing list of connected home products made by Amazon, including Ring home security systems and Echo smart speakers.

Organizations: Amazon, Foods, MGM Studios, European Union, Federal Trade Commission Locations: E.U

☆ You'll start seeing ads on Amazon Prime Video today — unless you pay an extra $3 a month to remove them
▼ + stars: | 2024-01-29 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +1 min

Read previewIf you use Amazon Prime Video, expect to start seeing some ads today unless you're willing to shell out a few more bucks a month. The streaming service began to roll out ads on Monday unless subscribers pay an additional $2.99 per month to avoid them. Prime Video is included with an Amazon Prime membership, which costs $14.99 per month, or $139 if bought for the year. While Amazon increases the price of Amazon Prime Video, the company is also paring back its labor costs. Amazon earlier this month announced layoffs affecting "several hundred" people in its Prime Video and Amazon MGM Studios divisions.

Persons: — Organizations: Service, Business, Amazon, Netflix, Hulu, Max, Disney, Paramount, Showtime, Amazon Prime, Amazon MGM Studios Locations: UK, Germany, Canada, France, Italy, Spain, Mexico, Australia

It was down only 14% from the previous weekend and brings its running domestic total to $42.3 million. Political Cartoons View All 253 ImagesThis was the first moviegoing weekend following Oscar nominations. Searchlight’s “Poor Things,” nominated for 11 Oscars, including best picture, best director and best actress for Emma Stone, got a 43% boost from last weekend with an estimated $3 million. And A24’s “The Zone of Interest,” which had five nominations, including best picture and best director for Jonathan Glazer, expanded to 317 screens, where it earned $1.1 million. Universal had leading Oscar nominee “Oppenheimer” in 1,262 theaters, where it earned an additional million dollars this weekend.

Persons: holdovers, “, Jason Statham actioner, It's, “ Oppenheimer, ” “ Barbie, ”, Jeffrey Wright, Emma Stone, Jonathan Glazer, Alexander Payne's “, Glazer's, Jonathan Organizations: American, Amazon MGM Studios, Warner Bros, Universal Locations: North America

☆ Wall Street analysts touted 5 portfolio stocks this week. Here’s our call on each name
▼ + stars: | 2024-01-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

In turn, Wall Street analysts made a slew of bullish calls on five of our portfolio names — all of which report earnings next week SBUX YTD mountain Starbucks (SBUX) year-to-date performance Wall Street's call: Wells Fargo forecasted an improved backdrop for Starbucks. Although the stock's been a portfolio laggard, we're bullish on management's plans to progressively expand margins in the years to come. MSFT YTD mountain Microsoft (MSFT) performance year-to-date Wall Street's call: Morgan Stanley boosted Microsoft's price target to $450 per share from $415, citing the company's strength from generative artificial intelligence efforts. Analysts issued a slew of downbeat calls at the start of 2024, causing the stock to sell off. AMZN YTD mountain Amazon (AMZN) year-to-date performance Wall Street call: Jefferies said Amazon stock has even more room to run after a great 2023.

Persons: Wells Fargo, we're, Morgan Stanley, Goldman Sachs, refreshes, Jefferies, AMZN, Twitch, they're, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones, Wall Street, Club, Microsoft, Big Tech, Bank of America's, Apple, Analysts, MGM Studios, Management, Bank of America, CNBC, Traders, New York Stock Exchange Locations: Fargo, China, Tuesday's, Copilot, F1Q24E, Thursday's, New York City, U.S

☆ Tech layoffs are expected to continue as companies seek to hire more AI talent, analyst says
▼ + stars: | 2024-01-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

And more Big Tech layoffs may be coming this year as companies bet big on AI, an analyst told CNBC. As of January 2024, 89 tech companies have laid off almost 25,000 employees, according to tracker site Layoffs.fyi. "Google and the rest of Big Tech are betting big on AI while cutting back on non-strategic areas," Dan Ives, a tech analyst at Wedbush Securities, told CNBC. Layoffs will continue in some areas, while"the hiring frenzy in AI will be unprecedented as this arms race continues across the tech world." But while growing investment in AI may soon put more out of work, new roles are being created within the AI space.

Persons: —, it's, Dan Ives, Ives, Sundar Pichai Organizations: Big Tech, CNBC, Google, Service, Wedbush Securities, Business, Amazon, Prime, Amazon MGM Studios, SAP, Apple, Meta, Nvidia

☆ These companies have earnings momentum heading into their reports next week
▼ + stars: | 2024-01-25 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

A fresh batch of earnings are set to come out next week, ranging from Big Tech companies to major pharmaceutical names, and analysts think some names could post stand-out results. Roughly 19% of S & P 500 companies are set to report next week, including megacap names such as Apple, Microsoft and Amazon. Thus far, about 22% of companies have reported earnings for the fourth quarter, with nearly 74% of those names surpassing expectations, FactSet data shows. Nearly 20 analysts have revised their quarterly earnings estimates upward. Other companies that have earnings momentum heading into next week include Hartford Financial Services and A. O. Smith Corporation , both of which have received roughly 20 earnings estimate revisions in the past three months.

Persons: FactSet, Brent Thill, Thill, AMZN, Tal Liani Organizations: Big Tech, Apple, Microsoft, CNBC, Jefferies, Amazon, MGM Studios, Royal, Qualcomm, Bank of America, Hartford Financial Services, Smith Corporation Locations: Wednesday's

A bunch of companies in the technology sector have been laying off some of their employees recently after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Now, many of them are making job cuts to help lower costs and bolster their bottom lines. Here's some of the companies that have laid of employees of late:GoogleGoogle said it was laying off hundreds of employees working on its hardware, voice assistance and engineering teams. The company, which is owned by Chinese technology giant Tencent, said 530 jobs were being eliminated, accounting for about 11% of its headcount. AmazonTwitch, which is owned by Amazon, is cutting more than 500 jobs in a bid to save on costs.

Persons: TikTok TikTok, Dan Clancy, Bob Carrigan Organizations: Google Google, Google, Riot Games, “ League, Games, eBay, eBay Inc, Amazon, Amazon’s, MGM Studios, Spotify Locations: Los Angeles , California, Beijing

LONDON (AP) — Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry. Political Cartoons View All 253 ImagesSan Jose, California-based eBay is the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Meanwhile, Amazon said this month that it is cutting several hundred jobs in its Prime Video and MGM Studios unit. Other tech companies, including Spotify, Microsoft, Meta and IBM, also have recently cut jobs.

Persons: Jamie Iannone, Iannone, ”, TikTok, Amazon, ” Iannone Organizations: —, eBay Inc, eBay, Google, Riot Games, “ League, MGM Studios, Spotify, Microsoft, Meta, IBM, Justice Department Locations: Jose , California, Massachusetts

☆ TECH'S JOB-CUTS JANUARY
▼ + stars: | 2024-01-24 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But by the third week of the month, layoffs had become a reality for many in tech. More than 70 tech companies have swung the ax so far this year, affecting more than 13,000 workers, according to tracker Layoffs.fyi. January is historically a common month for layoffs as companies adjust budgets and plans for a new year. In January 2023, more than 270 tech companies laid off nearly 90,000 employees, according to Layoffs.fyi.

Persons: —, Sundar Pichai, Dan Clancy, it's, Jason Citron Organizations: Industry, Google, Service, Tech, Workers, Prime, Amazon MGM Studios, YouTube, eBay Locations: TikTok, overhiring

☆ eBay is laying off 1,000 employees — about 9% of its workforce. Read the memo its CEO sent to staff.
▼ + stars: | 2024-01-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

eBay is cutting 1,000 jobs — a reduction of about 9% of its workforce. CEO Jamie Iannone told employees in a memo Tuesday that it would make the latest round of layoffs so it could be "more nimble." Iannone pointed to its expenses and headcount eclipsing the growth of its business in the memo shared on the company website. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business." Read the full memo the CEO sent to employees below.

Persons: Jamie Iannone, Iannone Organizations: Service, eBay, Google, Amazon, Prime, MGM Studios

☆ Corporate America's loyalty problem is on display in Big Tech
▼ + stars: | 2024-01-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how there's no more loyalty in corporate America between employers and their workers. Business Insider's Aki Ito, who has covered workplace trends better than anyone, dove into the deterioration of loyalty in corporate America. The best example of the deterioration of loyalty in corporate America these days is in Big Tech. AdvertisementOne year later, Big Tech's layoffs are back and could become the new normal, Business Insider's Peter Kafka writes. However, the best representation of the growing employee-employer chasm in Big Tech is at Google.

Persons: —, hustleharder, Insider's Aki Ito, they're, Insider's Peter Kafka, Kali Hays, BI's Eugene Kim, Ashley Stewart, Long, Sundar Pichai, BI's Hasan Chowdhury, Brian Moynihan, Moynihan, Laura Labovich, Asher, Emerson, Bill O'Leary, there's, Frederic J . Brown, haven't, Christian Dior, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb Organizations: Service, Big, Workers, Amazon MGM Studios, Big Tech, Google, OsakaWayne, Investment, New, Bank of America's, Fed, Washington, Getty, Meta, OpenAI Mafia, Shoppers, Spotify, Couture, United Airlines, The, Business Locations: America, Big Tech, Big, Bethesda, That's, Paris, New York, San Diego, London

With a dearth of new releases in cinemas, Paramount Pictures' Tina Fey-scripted musical “Mean Girls” pushed its two-week total past $50 million, along with $16.2 million internationally. The top 10 films collectively accounted for just $51.3 million in box office, according to Comscore. The Jason Statham thriller “The Beekeeper,” from Amazon MGM Studios, remained in second place, grossing $8.5 million in its second weekend to bring its total to $31.1 million. Warner Bros. “Wonka,” six weeks into its smash run in theaters, was third, with $6.4 million in ticket sales. In its fourth week of release, the Blitz Bazawule-directed film starring Fantasia Barrino, Taraji P. Henson and Danielle Brooks, grossed just $720,000.

Persons: Oscar, Tina Fey, it's, Ariana DeBose, Jason Statham, “ Wonka, It's, Sydney Sweeney, Glen Powell, Bridget Jones's Baby, Ava DuVernay's “, Aunjanue Ellis, Taylor, Isabel Wilkerson, Yorgos, Emma Stone, Cord Jefferson's, ”, Jeffrey Wright, Jonathan Glazer’s, Oprah Winfrey, Steven Spielberg, Fantasia Barrino, Taraji P, Henson, Danielle Brooks, Comscore, “ I.S.S Organizations: Paramount Pictures, U.S, Bleecker, Audiences, Hollywood, Amazon MGM Studios, Warner Bros, Sony Pictures, Searchlight, Globe Locations: Russia

☆ The state of Wall Street's drug culture
▼ + stars: | 2024-01-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the state of Wall Street's drug culture. What's on deck:AdvertisementBut first, does Wall Street have a drug problem? The big storyHigh on Wall StreetVartika Sharma for BIOf the many stereotypes about Wall Street, one of the most prevalent is the industry's rampant drug use. From Martin Scorsese's "The Wolf of Wall Street" to HBO's "Industry," extreme drug use and working in finance are often portrayed as being hand-in-hand. Business Insider's finance team spoke to more than a dozen current and former finance professionals, along with several health professionals, to get a sense of Wall Street's drug culture these days.

Persons: —, Jennifer Lopez's, Vartika Sharma, Martin Scorsese's, JAMES ARTHUR GEKIERE, Marty Chavez, Goldman Sachs, Chavez, that's, It's, Ted Shaffrey, Justin Sullivan, MGM Studios Jen Salke, Rachel Weisz, Alice Birch, MGM Studios Sue Kroll, Kevin Mazur, they'll, Josephine Maida, I've Organizations: Service, Business, BI, Sixth, Apple, Netflix, Big Tech, Tech, Amazon, MGM Studios, Apple Vision, Schlumberger Locations: Wall

☆ Jacob Elordi finally sniffed the 'Saltburn' bathwater candle and thinks it smells like detergent
▼ + stars: | 2024-01-19 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +2 min

Jacob Elordi smelled a "Saltburn"-themed scented candle on "The Tonight Show Starring Jimmy Fallon." Elordi appeared on Thursday's episode of "The Tonight Show Starring Jimmy Fallon," and host Jimmy Fallon gifted him a candle. AdvertisementOliver (Barry Keoghan) puts his face in Felix's (Jacob Elordi) bathwater in "Saltburn." Amazon MGM StudiosAlthough the bathtub scene is not the only explicit scene in "Saltburn," it is the most talked about scene on social media. While viewers found the bathtub scene disturbing, Elordi defended the scene in an interview with USA Today.

Persons: Jacob Elordi, Jimmy Fallon, —, Jacob Elordi's bathwater, Felix, masturbates, Oliver, Barry Keoghan, Elordi, Fallon, Priscilla, Cailee Spaeny, Suzie Davies, Keoghan, Davies, Emerald Fennell, Fennell Organizations: Service, MGM Studios, Business, USA Locations: Felix's

☆ These 2 tech giants are showing even more discipline in their continued year of efficiency
▼ + stars: | 2024-01-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +2 min

That helped push Apple shares higher too. Jim observed that in this continued era of efficiency, once again if companies downsize, their stocks go higher. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim, they've, Nelson Peltz, Disney, I'm, Nelson, Gamble, Eli Lilly, Jim Cramer's Organizations: CNBC, Taiwan Semiconductor Manufacturing Company, Apple, Bank of America, Nvidia, Amazon, MGM Studios, Disney, Procter, Ford, Wynn Resorts, Broadcom, Meta, Jim Cramer's Charitable Locations: Bank

☆ Amazon entertainment layoffs stir 4 big questions for insiders about the tech giant's Hollywood ambitions
▼ + stars: | 2024-01-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

The layoffs hit Prime Video and the Amazon MGM Studios division, with many of the cuts related to Amazon's $8.5 billion acquisition of MGM in 2022, the second biggest deal in the tech giant's history. The layoffs, combined with other factors straining the entertainment business — from strikes to content spending pullbacks — have heightened concerns about the future of the company's entertainment ambitions. These are the questions that came up the most about that future, according to conversations with six people close to Prime Video and Amazon MGM Studios. As part of the layoffs, two MGM teams were integrated under Chris Brearton, a business-side exec who joined Amazon with the MGM acquisition in 2022. How will sports impact original content spending?

Persons: what's, Jen Salke, Freevee, didn't, Who's, Chris Brearton, Salke, Mike Hopkins, What'll, there's Organizations: Amazon, Amazon MGM Studios, MGM, Amazon's, Hollywood Reporter, Hollywood, Diamond Sports, MLB, NHL, NBA Locations: Salke, Africa, MENA, Northern, Central

☆ Amazon's latest layoffs hit its Buy with Prime unit
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is laying off about 30 employees in its Buy with Prime unit, CNBC has learned, as it continues to look for ways to trim costs. The cuts affect fewer than 5% of staff in the Buy with Prime division, Amazon said. Buy with Prime is a service that lets online stores offer the same two-day shipping benefits available to Prime subscribers. Amazon said it's assisting Buy with Prime employees who were laid off in finding new roles elsewhere within the company. WATCH: Amazon lays off hundreds of roles across Twitch, Prime Video and MGM Studios

Persons: we've, Santos, Peter Larsen, Amazon Organizations: CNBC, Amazon, Prime, MGM, Google, Xerox, Unity, Employees, MGM Studios

☆ 'Saltburn' production designer explains how they made the bathroom scene, from finding a tub that fit Jacob Elordi to creating his bathwater
▼ + stars: | 2024-01-16 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +7 min

Oliver spies on Felix as he pleasures himself in a clawfoot tub. After Felix finishes and leaves the room, Oliver crawls into the tub and drinks the last bit of water from the bath as it swirls down the rusty drain. The scene's shocking nature has led to countless TikToks and jokes, including a cocktail recipe inspired by the moment. "The bathroom was described along with the whole walkthrough scene when Felix walks through showing Oliver the house," Davies told Business Insider. "It was a spare bedroom with tapestry on the walls and a cream color," Davies explained of their chosen room.

Persons: —, Barry Keoghan's Oliver slurps, Felix, Jacob Elordi, Oliver, Jill, Jacob Elordi's Bathwater, Jacob Elordi's bathwater, I've, Suzie Davies, Davies, Fennell's, Oliver's, Fennell, Emerald Fennell, Jacob, Barry slurping, Barry Keoghan, Linus Madekwe's, Barry Organizations: Service, Business, Oxford University, Drayton House, MGM, Amazon MGM Locations: Drayton, Northamptonshire

☆ After big tech layoffs, Silicon Valley may have lost its monopoly on workers
▼ + stars: | 2024-01-14 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

According to Dice's 2023 Tech Sentiment Report, 60% of tech workers in general are interested in leaving their jobs in 2024, which is up from 52% the year prior. According to Art Zeile, CEO of tech careers marketplace Dice, tech workers are most in demand in the aerospace, consulting, health care, financial services and education industries. Zeile says it's in spaces like these — non-tech enterprises with major tech branches — that tech workers can find better work-life balance and more stability than the tech leaders can provide. In corporate America outside of big tech, he said, "There is more of a dedication to making sure that the project gets fulfilled." Tech job growth geographicallyUltimately, Zeile says recent layoffs have induced a jarring disruption in two decades of growth in big tech.

Persons: Justin Sullivan, Jeff Spector, Spector, I'm, CBRE, Art Zeile, Zeile Organizations: Google, Tech, Meta, Microsoft, MGM Studios Locations: Mountain View , California, Silicon Valley, Seattle, America, India

☆ As Amazon, Citigroup and Google open 2024 with layoffs, experts say unemployed workers should take these steps
▼ + stars: | 2024-01-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Jackyenjoyphotography | Moment | Getty ImagesThe start of 2024 has not been kind to workers in industries that opened the year with layoffs. Recent U.S. Department of Labor data shows layoffs have been hovering near historic lows — and experts say getting laid off no longer has the same stigma it once did. The following steps can help you shore up your finances and kick-start your job search. Calculate severance pay, unused time offYou may receive a severance package from your employer or get paid for unused time off. If you're able to find a new job quickly, you may be able to bank the severance pay, he noted.

Persons: Twitch, Scott Dobroski, Ted Jenkin, Atlanta . Jenkin, Vicki Salemi, Salemi, Jenkin, Dobroski, We've Organizations: Google, MGM Studios, Tech, Citigroup, U.S . Department of Labor, CNBC, Finance Locations: Atlanta .

☆ Leaked recording reveals Amazon Prime Video boss warning employees the unit hired too fast, months before layoffs
▼ + stars: | 2024-01-11 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. "That's a lot of growth," Hopkins said. Prime Video was the first to do a hiring freeze at Amazon in 2022 because the team was growing too fast, he added. Related storiesHopkins's comments show the exponential growth the Prime Video and MGM Studios team saw prior to Wednesday's layoffs. For years, Amazon has poured billions of dollars into its video streaming service, which is included in its Prime membership program.

Persons: Mike Hopkins, Hopkins, didn't Organizations: Amazon, MGM Studios, Business, BI, MGM, Football Locations: Amazon, headcount

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