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Embracer Group made multiple layoffs, game cancellations, and studio closures between August 2023 and March 2024 after its $2 billion deal with Saudi Public Investment Fund fell apart. The company reportedly reduced its headcount by 7,761, closed or divested 44 internal and external studios, and decreased the number of game projects by 80.
On July 26, 2024, SAG-AFTRA (Screen Actors Guild – American Federation of Television and Radio Artists) initiated a labor strike involving the union’s voice actors and motion capture artists against American video game companies signed to the union’s Interactive Media Agreements over failed renegotiation terms of the contract that had expired in November 2022.
The media and entertainment industry's reckoning will continue in 2024 with more layoffs underway. Media layoffs: Google, Paramount, Disney, and others commit to job cuts in 2024 [Video] Skip to ...
G/O Media Inc. is an American media holding company [1] that owns and operates the digital media outlets Kotaku, The Root, The Inventory, and Quartz. [2] [3]It was formed in 2019 after the private equity firm Great Hill Partners purchased two digital portfolios from Univision: Gizmodo Media Group (Gizmodo, Jezebel, Deadspin, Lifehacker, Splinter, The Root, Kotaku, and Jalopnik) and the Onion ...
Last year was catastrophic for employees in some industries. Companies planned 721,677 job cuts, a 98% leap from 2022, according to a report from professional outplacement firm Challenger, Gray &...
With layoffs, expect that to get worse, Pon said. The few in-person service centers may close. “Normally they also have a Saturday service center open in March or early April, but that will ...
Jen Glennon resigned her position as editor in March 2024, citing an opposition to G/O Media's desire for the site to deprioritize news and instead focus on producing game guides. [31] In July 2024, it was reported that Kotaku Australia would shut down as part of a cost-cutting effort from third-party publisher Pedestrian Group. [32]
The bloodletting in big tech continues after a year of slowing sales and profits along with de facto valuation resets at the hands of an aggressive Federal Reserve.