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Why is the $180bn games industry shedding thousands of staff?
(www.theguardian.com)
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this post was submitted on 09 Feb 2024
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Industry figures indicate employment in IT is still above pre-covid levels. Companies over-hired and are normalising. We’re not seeing this labour activity in most other sectors. There’s no reason to panic.
That's one way to look at it, if you're looking to downplay the human impact. The way I look at is these companies had a short sighted hiring spree and now thousands of people are without income and can't just get a new job as the industry is laying off everywhere. That seems like a reasonable source of panic for the people with no income and not a lot of prospects.
Workers are numbers