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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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[–] TubularTittyFrog 1 points 10 months ago* (last edited 10 months ago)

Media wants us to believe we are in a recession so people stop spending and actually cause it, thus the Fed has to lower interest rates and the wealthy can go back to getting lots and lots of free money for virtually nothing.

It's absurd to see a huge company dropping a few hundred jobs as a national headline... but that's how hard the media is determined to pushing the recession narrative/bad economy narrative.