Tech News

Amazon owned twitch to lay off 500 employees what is the reason know

Amazon owned twitch to lay off 500 employees what is the reason know

Amazon's livestreaming platform Twitch may lay off employees. Due to this, about 500 employees may lose their jobs, which is 35 percent of Twitch's total workforce. Many top officers of the company have already resigned. In 2014, Amazon took over Twitch. Last year, after 9 years, former Twitch CEO Emmett Shear resigned from his position. Since then there were speculations that Twitch may have to face workforce cuts in the coming days.

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.

Also Check:  Happy New Year 2020 Stickers: Get unique Happy New Year stickers on your WhatsApp like this

For the latest tech news, smartphone reviews and exclusive offers on popular mobiles, download the Ocean of Gadgets Android app and follow us on Google News.

Check out the latest news from the Consumer Electronics Show on hindi.gadgets 360 and our CES 2024 page

#Amazon #owned #twitch #lay #employees #reason

About the author

Manoj Kadam

Leave a Comment