Twitch, the livestreaming platform owned by Amazon, plans to lay off around 500 employees, representing approximately 35% of its workforce. The cuts are expected to be announced on Wednesday and come as Twitch faces concerns over ongoing financial losses. Twitch is said to incur enormous expenses each month, hosting over 1.8 billion hours of livestreamed video content, despite leveraging Amazon's infrastructure. Current Twitch CEO Dan Clancy has worked to improve relations with streamers but has struggled to stem financial losses, following two rounds of layoffs by Amazon last year that impacted Twitch.