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by yugarinn
896 days ago
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Over-hiring adjustments is something I think was more common last year. By now, all companies "needing" layoffs to compensate should have already done so. This feels more like Twitch just really struggling financially, as mentioned in the article. |
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Twitch got really big during the pandemic: lots of people had nothing else to do besides sit on their computers all day playing or watching games. Viewership exploded, creatorship exploded, hiring was easy in remote, so hiring exploded.
Post pandemic Viewership has likely tanked as people got back to work and school. Creatorship has also subsided as people can't play games 24/7 anymore, so any revenue growth they would have experienced over the pandemic has been likely off-set by now.
They countered that with layoffs last year, as most tech companies did, but their case was not just about laying off the extra hires, they also lost business they could not recoup, so they're downsizing even more.