Livestreaming site Twitch is losing more than 400 employees as part of another round of layoffs at Amazon.
In a statement, Twitch CEO Dan Clancy blamed the layoffs on the "current macroeconomic environment, and user and revenue growth [that] has not kept pace with our expectations."
Amazon bought Twitch in 2014 for $970 million.
The layoffs come as part of Amazon's plan to cut another 9,000 employees after it eliminated 18,000 jobs in January.
In addition to Twitch, the latest round of job cuts will primarily impact the eCommerce giant’s cloud computing, human resources, and advertising businesses, according to Amazon.
The decision to streamline its costs and headcount comes amid “uncertainty that exits in the near future,” CEO Andy Jassy said in a letterr to shareholders earlier this week.
“The overriding tenet of our annual planning this year was to be leaner while doing so in a way that enables us to still invest robustly in the key long-term customer experiences that we believe can meaningfully improve customers’ lives and Amazon as a whole,” Jassy added.
A tough economic climate has seen Big Tech companies slashing jobs in recent months, with Facebook’s parent company Meta last week announcing it was laying off another 10,000 employees on top of the 11,000 jobs cut in November 2022.