Twitch will reportedly reduce its workforce by 35%, a loss of around 500 jobs, as the streaming giant tightens its belt.
First reported by Bloomberg, the current Twitch layoffs follow two similar rounds in 2023 that, together, cut around 400 jobs. Twitch is now down almost 1,000 jobs in less than a year.
According to Bloomberg, the latest round of layoffs at Twitch are connected to internal “concerns over losses” and a number of high-profile departures from among its executive ranks.
Nathan Grayson of Aftermath also reported that his sources inside Twitch said that the Bloomberg report was the first that staff had heard about any fresh wave of layoffs. As the story began to spread, he reported that Twitch had not yet said anything internally.
That Twitch continues to struggle with balancing its internal budget does not come as a surprise. Despite being the biggest name in online live streaming, Twitch has always found it hard to turn a profit. In December last year, the company announced it would close its South Korean operations entirely, calling the cost of doing business there “prohibitively expensive.”
Today’s Twitch layoffs come just a day after Unity announced it would sack 25 per cent of its remaining staff, a total of around 1,800 jobs.
More as it develops.
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