Amazon announces layoffs, cutting 500 employees at Twitch (35% of staff) and several hundred more at MGM and Prime Video divisions.
Twitch CEO Dan Clancy cites the need to rightsize the company, revealing that despite paying over $1 billion to streamers in 2023, Twitch is still unprofitable.
Senior VP of Prime Video and Amazon MGM Studios, Mike Hopkins, announces job cuts, emphasizing the need to prioritize long-term business success amid industry evolution.
Discussion (1)
Not to mention it's getting eaten alive by tiktok and youtube streaming options. They have the make the platform more attractive.
That aside, many tech companies are cutting heads, so I suppose this isn't exactly surprising.