Amazon on Wednesday announced that it will lay off “several hundred” people across its Prime Video and MGM Studios film and TV divisions. The company is eliminating jobs as it makes massive profits.

Amazon boss Mike Hopkins confirmed the cuts in a memo to staff (via Variety), informing workers that Amazon is taking these steps to “prioritize our investments for the long-term success of our business.” After conducting a review of “nearly every aspect” of its business, Amazon decided it would cut jobs. Affected staffers will receive severance packages and other “transitional benefits,” as well as job placement support.

Prime Video is known for its popular shows like The Boys and Reacher, while the MGM division–which Amazon acquired for $8.45 billion–is best known for the Ja…