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On April 16, 2024, Take-Two Interactive announced plans to lay off 5% of its workforce and cancel several video game projects. The company cited a cost-reduction plan, anticipating total charges of $160 million to $200 million. These measures are expected to be largely implemented by December 31, 2024. [ 109 ]
The gaming industry is facing mass layoffs. There’s also the growth of live service games — online games that are continually updated with content and often require in-game purchases to some ...
Microsoft is laying off 650 employees in its Xbox games division, following previous layoffs and studio closures, Bloomberg reported.
His remarks come at a time when layoffs have hit the gaming industry hard. ... Revenue from video game sales in the US in 2023 fell by 2.3% from the previous year, and the average time spent ...
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 ...
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 ...
Electronic Arts plans to lay off 5% of its employees, making it the latest company in the gaming and tech space to reduce its workforce.
Unity Technologies announced another set of layoffs consisting of 3.8% or 265 employees as part of a company "reset" following its licensing changes in September 2023. [60] December 7 The Game Awards 2023, honoring the best video games of the year, took place at the Peacock Theater in Los Angeles. [61] 11