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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 following titles were 2024's top ten best-selling premium games by region (excluding microtransactions and free-to-play titles) on PC and console platforms, for Japan, the United States, and Europe.
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 continues in 2024 with more layoffs, as rising costs and debt-ridden balance sheets continue to weigh on the embattled sector.
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 &...
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.
Towards the end of 2023 and continuing into 2024, the video game industry saw a large number of layoffs, with over 10,000 jobs lost in 2023 and at least 8,000 in 2024 by February 2024. While other factors contributed to the layoffs, such as previous acquisitions and mergers that came after 2021, the return to normalcy after COVID changed the ...
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 ...