Video game streaming giant Twitch will reduce its workforce by 35 percent in a move that will see around 500 workers lose their jobs, Bloomberg reports.
The move follows two rounds of layoffs in 2023 that cut around 400 positions. All told, the layoffs will see close to 1000 employees lose their jobs in less than a year.
Bloomberg’s report attributes the layoffs to “concerns over losses” as well as the departure of several top executives. Twitch announced in December that it would be shutting down its office in Korea in February.
Twitch has come to dominate the streaming space since launching back in 2011, but it has continued to struggle with costs. In a post announcing the closure in Korea, CEO Dan Clancy described operating in that country as “prohibitively expensive.” Bloomberg reports that Twitch remains unprofitable.
Elsewhere, the games industry continues to be impacted by layoffs. Just yesterday, Unity Software announced that it was laying off 25 percent of staff amid a “company reset.” Massive layoffs in 2023 tempered what was otherwise a banner year for game releases.
IGN has reached out to Twitch for comment.
Kat Bailey is IGN’s News Director as well as co-host of Nintendo Voice Chat. Have a tip? Send her a DM at @the_katbot.
