Streaming service Twitch announced plans to cut 36% percent of its workforce, affecting 400 employees, in an effort to combat the massive economic downturn affecting big tech.
The news comes just over a week after Meta CEO Mark Zuckerberg announced 10,000 would be fired from the company.
Amazon, Twitch’s parent company, announced plans to fire 9,000 workers across divisions earlier this month.
“Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations,” new Twitch CEO Dan Clancy wrote.
“In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce.”
The collapse of the woke tech industry is showing no signs of slowing down, with companies similar to Twitch announcing major layoffs from their workforce.
The culture of ESG status, rooted in climate change hysteria and far-left identity politics, has created an unsustainable financial system based on woke ideology.
The collapse has been reflected in the recent fallout from the Silicon Valley Bank, which exposed the deep flaws in ESG-based finance.
Twitch is known for implementing an 8-member “Safety Council,” which oversees TOS rules for the platform.
The leftist council included a transgender member, who also indentifies as a deer, who often accused gamers of being “white supremacists.”
The saying “Get Woke, Go Broke” is becoming more of a warning than a catchphrase these days, as it appears Twitch failed to heed the warnings.
The platform’s move came just days after CEO Emmet Shear resigned, indicating all was not well at the company.
Last November, Facebook began a series of large-scale layoffs affecting thousands of employees due to a large drop in share price.
Meta forecasted a weak holiday quarter, wiping about $67 billion off its stock market value.
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