Live streaming platform Twitch has announced the layoffs of just over 400 employees. The company currently has a total of 13,600 companies listed on LinkedIn. Twitch cited the current macroeconomic environment and missing forecasts as the reason.
These layoffs come just a week after co-founder and CEO Emmet Scheer stepped down from his position.
“Our mission at Twitch is to empower communities to create together. You rely on us to give you the tools you need to build your communities, safely stream your passions, and make money doing what you love,” said Dan Clancy, the company’s new CEO. “We take this responsibility incredibly seriously, and sometimes we have to make extremely difficult decisions to ensure that our business is protected so that Twitch can last for a long time.”
The cut is part of a broader effort by Amazon’s parent company. The company today announced it would cut about 9,000 jobs, mainly in AWS, PXT, advertising and Twitch. These layoffs follow an earlier round of approximately 18,000 job cuts in January 2023.
Notably, Twitch’s sales department was integrated into Amazon’s advertising department when the company was acquired in 2014 – another department affected by these cuts.