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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."
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.
In the video game industry, 2024 saw job losses that continued from 2023, including large cuts from Microsoft Gaming, Electronic Arts, and Sony Interactive Entertainment, with nearly 15,000 jobs cut through the entire year.
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 ...
In the October report, the BLS estimated that 254,000 jobs were created in September, but that number could vary by as much as 130,000. The actual number of jobs added could be as high as nearly ...
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 &...
Microsoft recently announced that it was laying off 10,000 workers to trim costs. On the same day, Amazon began its wave of 18,000 job cuts. Other tech companies -- including Meta, Salesforce ...
Layoffs.fyi, a website that dutifully tracks job cutting, shows that 263,000 tech employees were cut in 2023 alone. Only 11 days into 2024, there have been 24 tech companies that have laid off a ...