2024-01-10 07:14:24
Twitch, the popular livestreaming platform that was acquired by Amazon, is set to lay off at least 500 employees, or about 35 percent of its workforce, according to a report from Bloomberg. The layoffs could be announced as early as Wednesday, January 10, the report says.
This news comes after a series of high-profile departures from the company, including several top executives. In 2023, Twitch saw resignations from its chief product officer, chief customer officer, and chief content officer. The company also lost its chief revenue officer, who previously worked at Twitch as part of Amazon’s advertising division.
After being acquired by Amazon nine years ago, Twitch has struggled to turn a profit, Bloomberg reports. The company’s CEO, Dan Clancy, stepped down in March 2023, and the company has been reeling from the departure of key executives.
Twitch’s plan to lay off 500 employees is a significant development for the company, and it raises questions about its future. It is not known whether these layoffs will continue in the coming years.
The news of Twitch’s layoffs adds it to the growing list of companies that have announced employee layoffs in the past year. It remains to be seen how the company will navigate this challenging time and what the future holds for its employees and the platform as a whole.
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