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Despite Amazon's acquisition of the company nine years ago, Twitch continues to grapple with financial challenges, remaining in the red.
The Amazon-owned livestreaming platform will cut 35% of its staff, or roughly 500 employees, Bloomberg reports, and will announce the reduction as early as this week. Twitch did not immediately respond to TechCrunch's request for comment. Shortly after Twitch co-founder and longtime CEO Emmett Shear handed the reigns to its now-CEO Dan Clancy, the company laid off 400 employees.
Popular streaming service Twitch is reportedly about to lay off 500 workers following an earlier round of job cuts at the Amazon-owned company last year.
In another cutback, Twitch lays off 500 people, 35% of staff - SiliconANGLE
Twitch CEO Dan Clancy said in December that the company would shut down operations in South Korea in February this year, due to high operating costs and network fees.