Twitch Lays Off More Than 400 Workers, CEO Emmett Shear Steps Down

thegamer.com:

Twitch recently announced having undergone a massive layoff, with more than 400 employees losing their jobs. The news comes as part of a larger round of layoffs across Amazon, the parent company which currently owns Twitch. Amazon suffered over 9,000 layoffs across all of its divisions over the course of this past year.

The new Chief Executive Officer at Twitch Dan Clancy explained in a blog post how the company had to let go of 400 workers in order to cut costs. "User and revenue growth has not kept pace with our expectations," Clancy remarked about the matter. "In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce."

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The now former CEO at Twitch Emmett Shear announced his departure from the company earlier today on March 20, 2023. "With my first child just born, I’ve been reflecting on my future with Twitch," Shear explained. "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."

Clancy previously served as the company's president prior to Shear's departure. Clancy has been with Twitch since 2018 and has well over 20 years of experience in the technology industry. The executive claims to have "big opportunities ahead to support" streamers and their communities in the wake of these layoffs, but it remains unclear what precisely this entails. Some have been speculating that Twitch may be looking to diversify its revenue streams, possibly offering