Space Industry and Business News
TECH SPACE
Amazon's game streaming platform Twitch cuts 500 jobs
Amazon's game streaming platform Twitch cuts 500 jobs
by AFP Staff Writers
San Francisco (AFP) Jan 10, 2024

Amazon's gamer streaming unit Twitch on Wednesday announced that it was laying off 500 staff, reportedly one third of the company, as it struggles financially despite strong popularity among players.

"I wanted to send a short note to let you know that we've made the difficult decision to reduce the size of our workforce today," Twitch CEO Dan Clancy said in a blog post.

Twitch, acquired by Amazon in 2014 for close to $1 billion, has hit headwinds of late and recently shut down its operations in major market South Korea due to cost issues.

The cuts, first reported by Bloomberg, came as Twitch has suffered an exodus of top executives amid a massive cost-cutting campaign across Amazon units.

They also came after previous rounds of staff cuts at the streamer, which is widely used within the gaming community.

"I know many of you are wondering why this is happening. Over the last year, we've been working to build a more sustainable business so that Twitch will be here for the long run and throughout the year we have cut costs and made many decisions to be more efficient," Clancy wrote.

"Unfortunately, despite these efforts, it has become clear that our organization is still meaningfully larger than it needs to be given the size of our business," Clancy said.

Amazon last year began its biggest ever job cutting campaign, which it said will reach 27,000 positions across the company.

As part of that wave, Amazon on Wednesday also announced that it was laying off hundreds of people at its Prime Video and at MGM Studios division.

"This is a difficult decision to make and one that my leadership team and I do not take lightly," the company's entertainment chief Mike Hopkins wrote in an email to staff.

Related Links
Space Technology News - Applications and Research

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TECH SPACE
Sony PlayStation 5 sales cross 50 million units
Tokyo (AFP) Dec 21, 2023
Sales of Sony's PlayStation 5 have crossed 50 million units, the Japanese electronics giant said, pointing to "strong momentum" this year for its flagship gaming console. The PS5 was launched in November 2020, with the world in the grip of the Covid pandemic, and its sales initially suffered because of widespread supply chain problems and a global chip shortage. Still, the PS5 reached the 50-million-unit milestone in almost the same period as its predecessor, the PS4, with Sony saying its flagsh ... read more

TECH SPACE
Amazon's game streaming platform Twitch cuts 500 jobs

The Future of fashion: Waste is the new cotton

Researchers 3D print components for a portable mass spectrometer

GESTRA space radar successfully enters final test phase

TECH SPACE
Viasat Secures Major U.S. Air Force Contract for Advanced Tech Integration

HawkEye 360's Pathfinder constellation complete five years of Advanced RF Detection

New antenna offers unprecedented flexibility for military applications

WVU Team Tackles Radio Interference in Astronomy with NSF Funding

TECH SPACE
TECH SPACE
GMV reinforces satellite expertise with new Galileo Operations Center in Madrid

Airbus presents first flight model structure for Galileo Second Generation

Galileo Gen2 satellite production commences at Airbus facility

Galileo Second Generation satellite aces first hardware tests

TECH SPACE
Sirius Jet: World's First Hydrogen VTOL

Aurora Flight Sciences to build DARPA's X-65 utilizing Active Flow Control

Black box from US Osprey found off Japan

Taiwan detects four Chinese balloons ahead of election

TECH SPACE
Malaysia's 'Silicon Valley' hit by four-day water cut

Tantalum silicide's key role in high-temperature spintronic devices

US to gather chips supply chain intel to boost national security

Utility-Scale Quantum Program Advances Toward Prototyping

TECH SPACE
Earth Blox delivers climate and nature analytics at scale through Google Cloud Marketplace

Rocket lifts four satellites into orbit

China Launches Land Surveyor Satellites, Bolstering Earth Observation Network

China's civil military dual-use space strategy

TECH SPACE
Amsterdam 'fashion library' takes aim at clothes waste

Researchers: Fragrant allure of live Christmas trees can affect indoor air quality

China air pollution worsens in 2023, first time in decade

Fresh Research for Fresh Air: Harnessing microbes for removing indoor pollutants

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.