Twitch announced plans to lay off staff on Monday.
The company stated that they have been affected by the layoff waves that have swept the tech industry in the last six months.
The layoffs will affect 400 employees and were described as an effort to improve Twitch’s long-term business outlook. The cut is part of Amazon’s plan to lay off 9,000 employees, which includes Twitch.
“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,” new Twitch CEO Dan Clancy wrote.
“In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce.”
Clancy announced the news on the company’s blog just days after longtime Twitch CEO Emmett Shear announced his resignation to spend more time with his family.
Clancy takes over as CEO from his previous position as president, where he was already in charge of day-to-day operations at the company.
