Leaked email shows even Twitch's CEO was caught off guard by Amazon's layoffs: 'I'm disappointed to share the news this way'
Amazon acquired Twitch, a live video-streaming service, for roughly $1 billion in 2014. Clancy became Twitch's CEO in March 2023, after its founderClancy added in his email that he couldn't share more details because discussions were not complete at the time, which he said could be"incredibly frustrating." The primary reason for the job cuts, he said, was"overly optimistic" growth in cost and headcount during the COVID boom years that failed to continue as expected.
Unfortunately, we cannot share anything more specific until all of the work is complete. In the meantime, you have my commitment that we are moving as quickly as possible while still ensuring we're being thoughtful and diligent in taking care of our impacted people. Currently we expect to communicate to people impacted by this decision no later than early next week. I know this is incredibly frustrating.
As we've shared previously, our business has been impacted by this tough macroeconomic environment, and user and revenue growth has not kept pace with our expectations. We grew significantly during the COVID lockdown in 2020 and 2021 and, unfortunately, did not retain as much of this growth as we originally expected.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
School superintendent candidate says job offer was rescinded after calling two females 'ladies' in emailAn incoming Massachusetts school superintendent is out of a job after he addressed two female school committee members as 'ladies' in an email about his salary.
Read more »
How email marketing can boost your relationship with customersInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
This app is like ChatGPT for your email, and it changed my life | Digital TrendsShortwave is an excellent email client with some unique tricks, but in the age of AI, its email summarization feature is a true game-changer.
Read more »
House lawmakers to meet with Apple, Disney CEOs on California tripHouse lawmakers are preparing to meet this week with Apple CEO Tim Cook and Disney CEO Robert Iger about countering China’s threat to America.
Read more »
This 40-year-old intern embarked on a year of self discoveryThough Alisha Fernandez Miranda, the CEO of I.G. Advisors, felt accomplished, “I was stuck,” she said.
Read more »
Vimeo CEO: Highly successful Gen Zers use these 3 tactics to improve their workplacesGen Zers now make up about a fifth of the U.S. workforce, bringing a new work culture with them. That's ultimately good for business, says Vimeo CEO Anjali Sud.
Read more »