Twitch is laying off 400 staff members
|Published
A twitch sign-in screen is seen at the offices of Twitch Interactive Inc, a social video platform and gaming community owned by Amazon. REUTERS/Elijah Nouvelage
Twitch has announced it's letting go of 400 staff.
CEO Dan Clancy made the news in a statement this week, in which he claimed the streaming platform's "user and revenue growth has not kept pace with our expectations."
He said: “Like many companies, our business has been impacted by the current macroeconomic environment, and 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.”
Many companies across the tech and gaming industries are making mass resignations.
Just last week, Mark Zuckerberg announced 10,000 layoffs at Meta.
The cull comes after Twitch co-founder Emmett Shear resigned as CEO.
The internet entrepreneur and investor, who was key in the launch of the streaming platform in 2011 and its predecessor Justin.tv in 2006.
However, Shear will still have an advisory role.
The move comes after Shear became a father for the first time and wanting to spend more time with his son.
A Twitch blog post explained: “With my first child just born, I’ve been reflecting on my future with Twitch. Twitch often feels to me like a child I’ve been raising as well. And while I will always want to be there if Twitch needs me, at 16 years old it feels to me Twitch is ready to move out of the house and venture alone.
“So it is with great poignancy that I share my decision to resign from Twitch as CEO. I want to be fully there for my son as he enters this world and I feel ready for this change to tackle new challenges.”
Clancy has been a part of Twitch - which was bought by parent company Amazon for a whopping $1 billion in 2014 - since 2019 and his role was to oversee product development.
Bang Showbiz