Amazon’s Twitch To Lay Off 35 Percent Of Its Workforce

Amazon-owned Twitch is laying off about 500 employees, equal to 35 percent of its workforce. The news was reported Tuesday by Bloomberg before being confirmed by the live streaming company on Wednesday. In a blog post, Twitch CEO Dan Clancy said that “it has become clear that our organization remains significantly larger than necessary given the size of our business.”

According to Clancy, Twitch’s business as it stands “is still strong,” but it’s not the size it hopes to be. Instead, he says, that goal will likely be reached in three or more years. Meanwhile, the company paid out more than $1 billion (about $1.338 billion Canadian) to streamers last year alone.

It should be noted that for Bloomberg, Twitch remains unprofitable even nine years after Amazon acquired it. Last March, Twitch laid off 400 employees as part of a broader swath of 9,000 job cuts at Amazon. In addition to this month’s Twitch layoffs, Amazon is also eliminating hundreds of roles at Prime Video and MGM Studios.

Clearly, layoffs are occurring across a variety of industries, but the gaming sector has felt these hits especially hard over the past year. In 2023, more than 10,000 people were laid off in companies such as PlayStation, Xbox, EA and Epic Games. This came amid a series of successes in the industry, particularly the series of highest-rated game releases in two decades.

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Besides that, More than 2,300 developers have already been laid off this year, including 1,800 in Unity, even though we’re not even two full weeks into January. Hopefully, these job cuts will finally slow in the coming months, but so far, 2024 is off to a rocky start.

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