Amazon owned twitch to lay off 500 employees what is the reason know
According to NDTV report, company officials have said that despite Twitch's dependence on Amazon's infrastructure, it is very expensive to run a website with 1.8 billion hours of live video content a month. In December, Twitch executive Dan Clancy said the company would cease operations in South Korea. Because it is costing a lot to operate there.
According to reports, Twitch has focused on ads in recent years. Despite this the business is not making profit. This is the reason why the company is now going to lay off the employees. In the year 2023, the world's leading companies cut their workforce and now after Twitch's move in 2024, this trend may continue.
Talking about Indian companies, startups like Paytm to Physicswala are also showing the way out to their employees. Spotify has laid off a large number of employees. Companies like Google, Facebook have also used the 'sword' on Jobs. Just before the New Year, Paytm cut more than 1,000 jobs, which is said to be 10 percent of its workforce.
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