Twitch is a video live streaming service launched in 2011, as a spin-off of Justin.tv, with its headquarters in San Francisco, California. The company is a subsidiary of Amazon that focuses on video game live streaming, broadcasts of electronic sports competitions, creative contents, and real-life streams.
Twitch has announced its plans to lay off around 500 employees in a bid to increase the company’s investments and focus on content and product initiatives that deliver maximum profits. The report further mentions that this round of layoffs is due to unprofitability. Additionally, Twitch announced a halt in operations in South Korea, one of the largest esports markets in the world, due to expensive network fees.
