Non-increasing users and disappointing financial results: These may be the main reasons for the economic difficulties experienced by Twitch, which is preparing to lay off 35% of its employees, that is, around 500 employees. Last March, the live streaming platform (owned by Amazon) laid off nearly 400 people, including senior executives, and the job bleeding doesn’t seem to have stopped.
New layoffs at Amazon
Staff cuts were also announced at Amazon’s Prime Video division. Mike Hopkins, president of the video streaming and studios division, sent an email to employees explaining: “Over the past year, we have examined nearly every aspect of our business to improve our ability to better serve our global customers and more innovative movies, television in a personalized and easy-to-use entertainment experience.” and live sports. As a result – according to the email’s conclusion – we have identified opportunities to reduce or discontinue investments in some areas, instead increasing investments and focusing on content and product initiatives with greater impact.”
The technology giant, managed by Andy Jessy, was responsible for a wave of layoffs in many segments in 2023. A heavy cost cut that enabled over 27,000 workers to gain their jobs.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
