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Twitch Lays Off 400 Employees & CEO Resigns
Twitch has announced that they have laid off more than 400 employees while Twitch CEO and co-founder Emmett Shear has resigned after 16 years at the company.
According to a blog post by new Twitch CEO Dan Clancy, the reason for the layoffs is to cut costs.
He said:
“User and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce.”
The Twitch layoffs are part of Amazon cuts, which include 9000 layoffs in total across the company’s many divisions.
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