The Strategist

Twitch to lay off third of its employees



01/11/2024 - 06:42



Popular streaming service Twitch, which is owned by Amazon.com Inc., plans to reduce workforce by 35%, laying off roughly 500 individuals, writes Bloomberg.



Marco Verch
Marco Verch
The layoffs resulted from divisional losses and the departure of several top managers in recent months.

Nine years after joining Amazon, Twitch is still losing money, according to the sources. This is mostly due to the expensive IT infrastructure that powers the production of about 1.8 billion hours of live content creation each month.

At the end of 2023, the company also lost its Chief Content Officer, chief customer officer, and Chief Product Officer.

Over 400 workers were let go by Twitch in two rounds of layoffs last year as part of an overall Amazon restructuring initiative.

source: bloomberg.com

 




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