Streaming platform Twitch is reportedly planning to lay off around 500 members of staff.

That's according to reporting from Bloomberg, which says that this would be around 35 per cent of the company's workforce. Twitch has declined to comment on the story, but the outlet says that these layoffs could be announced as early as today (Wednesday, January 10th).

This comes hot on the heels of several top executives leaving the company at the end of 2023. Twitch lost its chief product, customer, content and revenue officers, something that the firm described as "bittersweet" at the time.

It also follows a round of layoffs in 2023; around 400 members of staff were made redundant as part of Amazon-wide cuts that saw a total of 9,000 workers out of a job.

Workers aren't the only thing on the line when it comes to cost cutting at Twitch. The firm announced in December that it would be leaving South Korea due to the high cost of operating in the country.