It really is a bloodbath in the tech sector. I don't understand where these thousands of people are even going to go considering major companies are on hiring freeze
this post was submitted on 27 Feb 2024
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My pipe dream is a bunch of new indie studios forming out of all these layoffs and kicking publisher‘s asses on sales with new competent and passionate games.
…But I guess they‘d then probably sell to those publishers again and repeat…
The largest factor is lack of capital, which is something everyone is enduring due to the SVB collapse. This is a giant recession of the entire sector and I don't see how it corrects any time soon.
Some are saying it'll correct this year, but I'm not holding my breath...
While breathing is cool, I have some hope that it will start correcting this year or next.
The big thing is that the raised interest rates have helped to prevent a real recession. So the real question is when can they come back down. I hope it starts this year even though it'll likely take years to go back to what they were pre-pandemic, if the go that low again.
Wait, this Sony?
Sony’s profits up thanks to rising sales of music, games, movies and sensors. https://www.msn.com/en-ie/news/national/sony-s-profits-up-thanks-to-rising-sales-of-music-games-movies-and-sensors/ar-BB1ifEUl
Yeah but as the shareholders get used to companies laying off workers to "cut costs", any company not doing it sees their shares tank. Which is Not Ok™️, so they keep firing people so the execs can pay themselves bigger and bigger bonuses over high stock prices.
And when they again need people, they'll whine about how no one wants to work for them. Or how workers are "taking advantage."
No war but the class war
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