Twitch, Amazon's live streaming platform, to trim workforce by 35pc with 500 job cuts
Children playground miniatures are seen in front of displayed Twitch logo
Amazon's popular live streaming platform, Twitch, is reportedly gearing up for a significant workforce reduction, planning to cut approximately 35 per cent of its staff, translating to around 500 employees.
This is based on a Bloomberg report.
While the formal announcement is anticipated to be made soon, the decision comes amid financial concerns for Twitch, with notable losses prompting internal restructuring.
Twitch, a giant in the live streaming domain, is known for its colossal infrastructure supporting 1.8 billion hours of live video content monthly.
Despite being under the Amazon umbrella, the platform grapples with the financial challenge of maintaining such a massive scale.
Twitch CEO Dan Clancy recently revealed the cessation of operations in South Korea due to "prohibitively expensive" costs.
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Twitch's emphasis on advertising in recent years has yet to yield profitability, marking nine years since Amazon's acquisition.
The company continues to face hurdles, necessitating strategic adjustments to navigate the competitive and financial landscape.
Notably, several key executives departed from Twitch in the latter part of 2023, raising questions about the platform's leadership stability.
A chief product officer, chief customer officer, chief content officer, and chief revenue officer, among others, left the company during this period.
Bloomberg cited a Twitch spokesperson who expressed gratitude for their contributions and wished them well in their future endeavours, despite the departures.
Twitch CEO Dan Clancy, who assumed the role in March 2023, embarked on a mission to rebuild relationships with gaming celebrities integral to the platform.
His approach sought to address concerns raised by streamers about Twitch's original advertising strategy, leading to its re-evaluation.
Clancy has endeavoured to bridge the communication gap with users, but financial challenges persist. In 2023, Twitch underwent two rounds of layoffs, eliminating over 400 positions, as part of broader workforce adjustments within Amazon.
(With inputs from Bloomberg)
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