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Some media outlets compared the 2023-2024 layoffs to the video game crash of 1983, when the US video game market collapsed due to an oversaturation of poorly made, low-quality games, causing the video game industry to enter a recession for two years. This has sparked discussions about a potential "second video game crash."
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 ...
Layoff. A layoff[ 1] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [ 2] for business reasons, such as personnel management or downsizing (reducing the size of) an organization. Originally, layoff referred exclusively to a temporary ...
Layoffs to hit 15% of staff. Ellison’s proposed Paramount takeover is a two-step process. First, his group will buy the Redstone family's holding company, National Amusements Inc., which would ...
Amazon's layoffs over the last several years amount to more than 27,000 cuts. The latest round underscores the financial pullback, especially in contrast to massive spending during peak COVID. For ...
In January, across two rounds of layoffs that hit its ad sales and hardware teams, Alphabet laid off over 1,000 employees after handing out 12,000 pink slips in 2022.
The layoffs will result in annualized cost savings of around $200 million by the end of September 2025. "As we carry out our plan, it's important to bear in mind why we're making these difficult ...
More than 900 business leaders across the country expect significant layoffs at their companies in 2024, according to a survey. Thirty-eight percent of the 906 respondents said they think layoffs ...