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Benzinga
  • 2 years ago
Twitch, the livestreaming platform owned by Amazon, plans to lay off around 500 employees, representing approximately 35% of its workforce. The cuts are expected to be announced on Wednesday and come as Twitch faces concerns over ongoing financial losses. Twitch is said to incur enormous expenses each month, hosting over 1.8 billion hours of livestreamed video content, despite leveraging Amazon's infrastructure. Current Twitch CEO Dan Clancy has worked to improve relations with streamers but has struggled to stem financial losses, following two rounds of layoffs by Amazon last year that impacted Twitch.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Twitch, the live streaming platform owned by Amazon, plans to lay off around 500 employees,
00:07 representing approximately 35% of its workforce.
00:11 The cuts are expected to be announced on Wednesday and come as Twitch faces concerns over ongoing
00:15 financial losses.
00:17 Twitch is set to incur enormous expenses each month, hosting over 1.8 billion hours of live
00:22 stream video content, despite leveraging Amazon's infrastructure.
00:26 And Twitch CEO Dan Clancy has worked to improve relations with streamers but has struggled
00:31 to stem financial losses following two rounds of layoffs by Amazon last year that impacted
00:35 Twitch.
00:36 For all things money, visit Benzinga.com.
00:38 [BLANK_AUDIO]
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