Twitch says it will lay off 400 employees

Twitch announced plans to reduce its workforce on Monday, demonstrating that even the booming streaming site isn’t immune to the reductions that have swept the tech industry in the last six months.

The layoffs will affect 400 employees at the company and were characterized as an effort to improve Twitch’s business outlook in the long term.

“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 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.”

Clancy announced the news on the company’s blog just days after longtime Twitch CEO Emmett Shear said that he would step down from the company to spend time with his family. Clancy moves into the chief executive role from his previous position as president, which saw him already running day-to-day operations at the company.

This story is developing…