Amazon Cuts 18K Jobs with Big Sports Decisions Looming

As Amazon looks to grow its sports presence, it’s cutting back in other areas.

The e-commerce and technology giant is laying off more than 18,000 employees as it adjusts to uncertain economic times, CEO Andy Jassy said in a letter to the company’s employees.

• The reduction will be concentrated among corporate workers, representing around 5% of that group and 1.2% of Amazon’s 1.5 million total workforce.
• Amazon said in November it would trim around 10,000 jobs, mostly in devices, recruiting, and physical stores — cuts included in the 18,000 total.
• With a small dip to start the new year, Amazon’s stock is down 49% over the past 12 months. It has lost around $1 trillion in market cap since its July 2021 peak. 

Media

| by Amanda Christovich

Amazon Reportedly Plans to Launch Sports App

The app would host live sporting events currently streamed through Prime Video.

December 28, 2022

Sports Spending

Despite the layoffs, Amazon shows no signs of slowing its growth in sports.

Its priciest sports property is its $1 billion-per-year deal for “Thursday Night Football,” but it also recently inked a three-year pact for Overtime Elite, adding to deals with the Premier League and UEFA Champions League, among others.

The company is also a potential contender for NBA media rights after losing out on “NFL Sunday Ticket” to Google’s YouTube TV.

Amazon is reportedly working on a dedicated sports app.