Despite the overall growth of the video game industry, many companies are laying off employees. Recent examples include:
Gameloft: The company closed its Cluj studio, affecting 136 employees. It also made layoffs in Ukraine and Canada.
Ubisoft: Reduced its workforce by 1,700 employees.
CD Projekt: Laid off 100 employees to become "more agile and efficient."
Activision Blizzard: Eliminated 1,900 jobs following its acquisition by Microsoft.
Sony: Demitted 900 employees from its PlayStation division.
AE: Announced plans to lay off 5% of its workforce.
Reasons for the Layoffs:
Structural issues: The industry has a history of layoffs due to fluctuating demand. Studios often hire more employees during peak production periods and then lay them off when they can no longer afford them.
Mergers and acquisitions: Many layoffs have occurred following mergers and acquisitions.
Broader tech industry trends: The layoffs in the video game industry are part of a larger trend of layoffs in the tech sector.
Overall, the video game industry is still growing, but companies are facing a number of challenges that are leading to layoffs.
Additional Notes:
Over 10,500 people lost their jobs in the video game industry in 2023.
More than 8,000 people have lost their jobs in the video game industry globally in the first four months of 2024.
60,000 jobs have been cut in 254 tech companies so far in 2024.
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