This does tend to happen in industries where companies begin over-hiring. Being combined with the blight on humanity that is Wall Street doesn't help.
this post was submitted on 01 Mar 2024
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I really wonder whats driving all these game industry layoffs? Some of these layoffs are from really successful studios making popular games. So what gives?
I think at least part of it was the COVID games boom which led to many companies over-hiring, which seems to have proved unsustainable now that the bubble period is over.
It shows investors that the company is reeling in their spending to become more lean, leading to the perception of better profits. You'll notice that after most layoffs the share price increases.
Remember, the only product that's important to publicly traded companies is good investor sentiment, everything else is secondary.
Some unions would really put a hamper on that shite
All this just to make stock price go brrr.