According to reports, Twitch, the live streaming platform, is preparing to lay off approximately 35% of its workforce, amounting to around 500 positions. Currently owned by Amazon, Twitch’s own business is still experiencing losses. In recent times, high-level executives at Twitch have been resigning, and they have just announced the discontinuation of services in South Korea, which is a significant market for live streaming services. This is due to the high cost of network connectivity, making it impossible to generate profits.
Just last year, Twitch announced two rounds of layoffs, totaling around 400 positions.
TLDR: Twitch, owned by Amazon, is planning to lay off about 35% of its workforce, approximately 500 positions, as the company continues to struggle with financial losses. High-level executives have been resigning, and they have recently announced the discontinuation of services in South Korea due to the high cost of network connectivity.
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