Amazon's Twitch to axe hundreds of staff

Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ) streaming subsidiary Twitch is poised to lay off hundreds of staff after the business has failed to turn a profit since being taken over, reports say. According to Bloomberg, the company is set to announce 500 layoffs as early as Wednesday, representing 35% of its headcount. This follows cuts of around 400 jobs last year, with Bloomberg attributing the latest layoffs to “concerns over losses”. Amazon acquired Twitch for almost US$1 billion in 2014, with the streaming se ...