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What's up with all the layoffs in the technology sector, especially in the gaming industry? (self.outoftheloop)

submitted 10 months ago by ComicalMayhem to c/outoftheloop

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Sony announced a ton of layoffs recently, at the same time they announced they will not be releasing any major titles until 2025. Don't they need staff to make stuff? doesn't every company? Why all the sudden layoffs, it just doesn't make sense to me, what am I missing?

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[–] BottleOfAlkahest 22 points 10 months ago (1 children)

I'm not sure the CEOs actually thought growth would continue like that forever. They just knew they could get rid of all the extra people they hired when it slowed. The layoffs were always part of the plan, they just didn't say that quiet part out loud back in 2020.

[–] [email protected] 2 points 10 months ago

There is zero way these people didn’t know this would eventually happen. Anyone who was looking at this going on with a critical eye would have seen it coming from a mile away. Tons of more senior tech workers knew it would happen eventually. The market is especially rough for juniors right now.