LogInAround 35% of the company's workers are poised to lose their jobs in the near future.
Image Credit: Twitch
It is now apparent that the post-pandemic economic slowdown and the wave of layoffs that's been plaguing the tech industry throughout the entirety of 2023 caused by it have extended into 2024, with Twitch, the biggest live-streaming platform, planning to further reduce its workforce and fire an additional 500 workers.
According to a report from Bloomberg, this new round of job cuts is expected to impact approximately 35% of the company's entire workforce. This news follows the departure of several high-profile executives from Twitch, including the Chief Product Officer, Chief Customer Officer, and Chief Revenue Officer, who left the company last year.
While neither Twitch nor Amazon has officially addressed the layoffs or provided reasons for them, the report indicates that the platform remains unprofitable, largely attributed to the significant costs associated with maintaining its infrastructure, with this unprofitability appearing to be the most likely culprit behind the new cuts.
Image Credit: Twitch
Last year, Amazon already fired thousands of employees, including those who worked at Twitch. In November, the company continued its restructuring campaign, laying off "just over" 180 workers. Moreover, Amazon also closed two of its gaming initiatives – the Crown channel on Twitch and Game Growth, which helped developers market their games – in an effort to allocate its resources to delivering "great games to players now and in the future".
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