Amazon's Twitch to Cut 500 Employees, About 35% of Staff

Bloomberg01-10

(Bloomberg) — Amazon.com Inc.’s livestreaming site Twitch is poised to cut 35% of its staff, or about 500 workers, according to people familiar with the plans, the latest in a series of job reductions...

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Conrad Genio
01-10
Conrad Genio
Job loss = stock up

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US and Allies Met Secretly With Ukraine on Peace Plan. BlackRock Cuts 3% of Global Workforce, Citing Dramatic Industry Shifts. IPhone Survives 16,000-Foot Fall, Helps Steer Jet-Panel Hunt. Chinese Billionaire Is Second-Biggest Foreign Owner of US Land. The cuts, which could be announced as soon as Wednesday, come amid concerns over losses at Twitch and after several top executives left the company in the span of a few months. A Twitch spokesperson declined to comment.Running a large-scale website supporting 1.8 billion hours of live video content a month is enormously expensive, despite Twitch’s reliance on Amazon’s infrastructure, company executives have said. 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