In an unfortunate announcement to many employees, livestreaming giant Twitch has announced yet another round of layoffs, with roughly 500 staffers due to be let go. Twitch has stated "cutting costs" as a primary reason for its continued workforce trimmings, along with Twitch fully shutting down in South Korea to tighten up corporate spending. The layoffs continue the trend of company cutbacks and studio shutdowns that plagued the industry in 2023.