Posted 2/19/2024, 5:01:00 PM
Video game industry boom goes bust - pandemic hires now laid off as revenue declines post-lockdown
- Video game industry saw huge growth during pandemic lockdowns, leading companies to expand quickly
- Growth stalled post-pandemic, revenue is down, companies over-hired and are now laying off workers
- Nearly 16,000 game industry workers laid off in 2022 & 2023 alone across major studios
- Shifting business models focused on user-generated content cut costs but impacted jobs
- Developers unionizing to gain more workplace power as companies aim to please shareholders