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News on Medial
Amazon-owned Twitch may cut 400 more jobs
Startup News FYI
·
1y ago
Medial
Popular streaming platform Twitch is reportedly undergoing a second round of layoffs, cutting nearly 400 jobs just before the TwitchCon event. While Twitch has not confirmed the layoffs, it is believed that the customer experience department will be affected, with the positions potentially being outsourced to external vendors. This comes after Amazon fired 400 Twitch employees earlier this year, in an effort to compete in the increasingly competitive streaming market. The gaming industry as a whole is facing similar downsizing, with Naughty Dog also reportedly cutting staff and pausing the production of a multiplayer spin-off title.
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Tech layoffs in January 2024: CEO fires the whole company over 2-minute call; Google, Microsoft, Amazon continue layoffs; job cuts at TikTok, Flipkart, Swiggy, and others
Startup News FYI
·
1y ago
Medial
In January 2024, several tech companies implemented job cuts. Frontdesk fired all 200 employees during a two-minute call, Google laid off hundreds of staff across various divisions, Microsoft cut 1,900 jobs, Amazon announced layoffs in Audiobooks, Prime Video, and Twitch divisions, Xerox reduced its workforce by 15%, Unity Software cut 1,800 jobs, Discord laid off 17% of its employees, eBay cut 1,000 jobs, Flipkart laid off 1,000 employees, Swiggy laid off 400 employees, Riot Games cut 11% of its staff, TikTok laid off 60 workers, and Salesforce announced 700 job cuts.
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Tech layoffs in 2024: New Year off to a brutal start as Amazon, Google, others fire thousands
Economic Times
·
1y ago
Medial
In early 2024, amid economic challenges, tech and startup layoffs continue, with 48 companies cutting 7,528 jobs by January 15. Major players like Google and Amazon plan more layoffs to manage costs. Online rental platform Frontdesk initiated 2024's first layoffs, dismissing its 200-person workforce in a swift Google call. Notable layoffs in 2024 include Google, Amazon Audible, Amazon Prime Video, Amazon’s Twitch, Discord, Unity Software, and Xerox, indicating a potentially challenging year for the tech industry following 2023's massive job cuts.
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Twitch starts testing vertical video streams | TechCrunch
TechCrunch
·
21d ago
Medial
Twitch, owned by Amazon, is testing vertical video streams, entering competition with TikTok, Instagram Reels, and YouTube Shorts. The initial tests, identified by AppSensa, involve a few streamers and feature a vertical theater mode with dedicated UI elements. Users can toggle between classic and vertical formats, with educational dialogs introducing the feature. Current implementation includes camera and microphone permissions. Twitch plans to expand tests later in the year, including dual-format and 2K streaming.
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After Prime, Amazon's Twitch and Audible face layoffs due to financial issues
Livemint
·
1y ago
Medial
Amazon's gaming streaming unit, Twitch, is laying off 500 staff members (one-third of its workforce) due to financial struggles. Additionally, Audible, an Amazon company, is planning to cut 5% of its workforce. This comes after recent job cuts in Amazon's Prime Video and MGM Studios units, as the company aims to cut back in areas that are not delivering. Other tech companies, including Google and Xerox, have also announced layoffs in recent days.
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Amazon set to axe 14,000 manager roles by 2025 to cut red tape; move to help save $3 billion annually: Report | Mint
Livemint
·
10m ago
Medial
- Amazon may cut 14,000 manager roles to save $3 billion annually, according to reports. - CEO Andy Jassy aims to increase the ratio of individual contributors to managers by 15% by March 2025 for more efficient decision-making. - Employees can now report unnecessary procedures via a "bureaucracy tipline" launched by Jassy. - The restructuring plan will reduce nearly 13,834 manager jobs, saving $2.1 billion to $3.6 billion. - Amazon has approximately 1,05,770 managers worldwide, which will decrease to 91,936 by Q1 2025. - Savings from the job cuts will account for approximately 3% to 5% of Amazon's estimated operating profit for the following year.
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No, the great tech layoffs of 2023 aren’t happening again
Wired
·
1y ago
Medial
Tech companies like Amazon, Google, Duolingo, and Twitch have recently announced job cuts, but experts suggest that these layoffs may not indicate a continuing decline in the tech industry. Unlike the large-scale layoffs seen in previous years, these cuts are more targeted and focused on specific departments and products. The tech sector as a whole remains healthy, with stable consumer habits after the pandemic. While smaller job cuts may continue, experts do not foresee a widespread wave of layoffs across the industry.
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Streamers who rely on Twitch Prime Gaming subs are getting a slight pay cut
The Verge
·
1y ago
Medial
Twitch is introducing monetization changes including removing the $100,000 cap on revenue sharing, expanding the Partner Plus program, and changing the payment structure for Twitch Prime Gaming subscriptions. The changes aim to create a more sustainable system for streamers and increase their earnings. The new program will introduce a revenue split tier of 60/40 and expand eligibility to affiliates. However, the payment structure for Prime Gaming subscriptions will change to a fixed rate based on the subscriber's country, resulting in a slight pay cut for streamers. Twitch hopes that the expanded partner program and removal of the revenue cap will offset any negative impact.
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Twitch to shut down South Korea operations due to high costs
Economic Times
·
1y ago
Medial
Streaming platform Twitch has announced that it will be shutting down its operations in South Korea next year. The decision is attributed to high operating costs and network fees. Twitch CEO, Dan Clancy, stated that the company has been operating at a significant loss in Korea and that there is no viable path for sustainable business in the country. The network fees in Korea are reportedly ten times more expensive than in other countries. This move follows Twitch's layoff of over 400 employees earlier this year.
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Amazon's senior employees may not get a cash pay raise this year
Reuters
·
1y ago
Medial
Amazon has announced that senior employees who receive a larger portion of their compensation in stock awards may not receive a cash pay raise this year. The company is prioritizing cash base pay increases for employees who have a higher proportion of their compensation in base pay rather than stock. However, due to the significant growth in Amazon's stock price last year, some top employees may still see a meaningful increase in their overall compensation. Amazon's stock surged 81% in 2023 and has climbed over 18% this year. The move comes as Amazon aims to cut costs after shedding jobs and trimming stock awards last year.
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Amazon's senior employees may not get a cash pay raise this year
Economic Times
·
1y ago
Medial
Amazon has announced that senior employees who receive more stock-related compensation than cash may not receive a cash pay raise this year. The company is prioritizing cash base pay increases for employees whose compensation is weighted more heavily in base pay. However, some senior employees may still see their compensation increase due to the growth of Amazon's stock price. Despite the strong performance of the stock, Amazon began the year by cutting jobs and trimming stock awards to reduce costs.
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