Video game streaming giant Twitch is cutting 500 jobs, reducing its workforce by around 35%. That's according to a new report from Bloomberg, and along with the 1800 layoffs already planned over at Unity Software, it marks a grim start to 2024 in the games space.
In 2023, the Amazon-owned video platform suffered through two other rounds of reductions, accounting for about 400 roles combined. All told, that's almost 1000 jobs lost in under a year at the company alone, something the Bloomberg report attributes to "concerns over losses" and the departure of several top executives. Neither Twitch nor Amazon have responded to the report, but Bloomberg expects a formal announcement could arrive as soon as Wednesday (today).
In December, Twitch announced that it would cease service in Korea, citing untenable operation costs. The company insisted it was a situation unique to the region, but perhaps the problem is more dire than previously anticipated. As always, our best to everyone affected, and we hope the economic situation in the industry stabilizes soon.