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The layoffs hitting the gaming industry are largely the result of a handful of trends coalescing. The chief overarching issue comes down to publishers and developers overspending throughout 2021 ...
Despite the layoffs, studio closures, and cancellations of video game projects, as well as high inflation, the video game market continues to remain robust. [161] Many investors and industry analysts believe that the video game industry will fully recover in 2025 with major releases like Grand Theft Auto VI , Monster Hunter Wilds , 2XKO , Fable ...
The games industry has been hit by mass layoffs over the past two years following a rush of investments and acquisitions amid record profits and player numbers during the Covid-19 pandemic.
This series of layoffs in the game industry stemmed from slumping game sales and a shrinking gaming demographic, BI previously reported. Revenue from video game sales in the US in 2023 fell by 2.3 ...
Towards the end of 2023 and continuing into 2024, the video game industry saw a large number of layoffs, with over 10,000 jobs lost in 2023 and at least 8,000 in 2024 by February 2024. While other factors contributed to the layoffs, such as previous acquisitions and mergers that came after 2021, the return to normalcy after COVID changed the ...
In the video game industry, 2023 saw significant changes within larger publishers and developers. Microsoft, after having satisfied worldwide regulatory bodies, completed its US$69 billion acquisition of Activision Blizzard, making them the third largest game publisher in the world.
The gaming industry has seen widespread layoffs recently, with major players like Sony (NYSE:SONY), EA (NASDAQ:EA), and Microsoft Corp (NASDAQ:MSFT) also reducing staff and closing subsidiaries.
Additionally, mass layoffs in the video game industry from 2023 onwards have led to concerns about the future sustainability of game development, as this led to the cancellation of several game projects and shutdown of several studios. AI has been explored as one solution to mitigate the rising development costs of games, including costs ...