BFM Podcast

Game Over: The Impact of Layoffs on Tech and Gaming

Tan KW
Publish date: Fri, 21 Jun 2024, 02:43 PM
Game Over: The Impact of Layoffs on Tech and Gaming

21-Jun-24 12:00

Alexander Fernandez, CEO and Co-Founder, Streamline Studios

The topic of layoffs, particularly in the tech and gaming industry, has been a concern over the last couple of years and by the looks of it, 2024 is shaping up to be even worse than 2023. In fact, reports suggest that the gaming industry saw at least 8,100 people laid off in just the first two months of 2024. 

Some of the notable companies that went through layoffs include:

(25th JAN) IGN and The Verge first reported that Microsoft was laying off 1,900 people across its various gaming businesses, including Xbox, Activision Blizzard, and ZeniMax. 

(22nd JAN) Riot Games, the developer and publisher behind League of Legends and Valorant, announced that it was cutting 530 jobs or about 11% of its total workforce.

(27th FEB) Sony with 900 people across its worldwide games business affecting several of its studios, including the creator's of The Uncharted series, Naughty Dog and Imsoniac, the studio behind Marvel's Spider-Man. 

(28th FEB) Electronic Arts (EA) announced it would lay off 670 people across their divisions

(29th MAR) and at least 8,800 employees have been (or will be) laid off this year at SEGA, the company behind Sonic. 

Considering this ever-changing nature of the gaming industry, we speak with - Alexander Fernandez, CEO and Co-Founder at Streamline Studios, to explore why layoffs are becoming more prevalent in the gaming sector, how has this impacted game development companies, keeping in mind the fast rise of AI as well as what needs to be done before it's game over.

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