In 2023, Twitch, a livestreaming platform owned by Amazon, witnessed several high-level departures, prompting the company to reduce its workforce by 500 employees. This amounts to approximately 35% of the team being let go, according to Bloomberg. Last year, Twitch’s chief customer officer, chief content officer, chief product officer, and chief revenue officer all resigned within a few months. The company underwent two rounds of job cuts in 2022, affecting 400 people.
Although Twitch has been using Amazon’s infrastructure, running the website has proven to be financially challenging. Despite supporting over a billion hours of live video content each month, the platform has yet to turn a profit. On December 6, 2023, Twitch announced that it would be ending operations in South Korea in February 2024 due to high operating expenses and network fees. CEO Dan Clancy stated in a blog post that the company had been suffering significant financial losses in Korea, and there was no viable way for the business to operate sustainably in the country.
In October 2023, the video-streaming platform reportedly laid off 400 employees. This downsizing was smaller than the one that occurred in March 2023, as revealed by user Zach Bussey.
