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Popular streaming platform Twitch is reportedly cutting more jobs. This is the third round of layoffs as the company conducted two rounds last year.
According to a report by Bloomberg, the company is planning to layoff 35% of its workforce which accounts to 500 employees. The company is expected to officially announce the job cuts this week.
The announcement of job cuts comes in the wake of worries about financial setbacks at Twitch and following the departure of several key executives from the company within a short timeframe.
Twitch recently announced its plans to shut down the service in South Korea. “Ultimately, the cost to operate Twitch in Korea is prohibitively expensive and we have spent significant effort working to reduce these costs so that we could find a way for the Twitch business to remain in Korea. Twitch has been operating in Korea at a significant loss, and unfortunately there is no pathway forward for our business to run more sustainably in that country,” said the company in a blog post.
Also in October last year, the company laid off 400 employees. These job cuts were limited only to the customer care department of the company.
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