Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ) is continuing with layoffs this week, this time in its Audible division.
Audible CEO Bob Carrigan sent an internal memo to employees announcing that 5% of the division would be laid off, according to a report from Business Insider on Thursday.
"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," Carrigan wrote.
Cytokinetics stock plunged more than 16% Thursday to $84.95 after talks reportedly broke down with potential potential buyer Novartis AG (ADR) (NYSE:NVS).
Shares of the biopharmaceutical company have more than doubled since the end of October on speculation of a deal, and on Wednesday the stock closed at $101.63 on speculation that a deal would go through.
Earlier this week, Novartis appeared to be in the lead to acquire Cytokinetics, ahead of rival bidders AstraZeneca PLC (LSE:AZN) and Johnson & Johnson (NYSE:JNJ). The reason for the breakdown in talks is unclear.