You are viewing your 1 free article this month. Login to read more articles.
Audible is reportedly cutting 5% percent of its workforce in order to be “leaner and more efficient”.
The news was announced in a company memo from c.e.o. of the streaming company Bob Carrigan on Thursday (11th January), according to Publishers Marketplace.
Around 100 of the 1,500 to 2,000 staffers worldwide will lose their roles. The company has not confirmed which departments are affected.
in in a memo to staff, provided to PL by an Audible spokesperson, Carrigan wrote: “Today I have some difficult news to share with you. As we begin a new year, we’ve made the tough decision to reduce roles within our organisation.”
Carrigan, who joined the Amazon-owned company in 2020, described a “strong year” in 2023 with “business is in good shape”, but added: “However, to position us for continued success in the coming year and into the future, given the increasingly challenging landscape we face, we have to take this difficult decision now."
“Getting leaner and more efficient is the way we will need to operate now—and in the foreseeable future—in order to continue delivering best-in-class audio storytelling to our customers around the world.”
Approximately 5% of the organisation — which has headquarters in New Jersey in the US — is reportedly impacted by this reduction. Those affected have already been invited to a meeting with HR and their team leaders.
Carrigan wrote: “This is a hard moment, and many of you understandably feel uncertainty about the future. I want you to know that we’re making these decisions to strengthen our business for the long term.
“We are well positioned to continue our momentum and sustain the global growth that will keep us the leader in audio storytelling.” Carrigan will share more information about future strategy later this month.
The Bookseller has contacted Audible and Amazon for comment.