Business And Employment News

"2023 in Review: Layoffs and AI Disruption Take Center Stage in Gaming Industry"

The video game industry in 2023 has been marred by widespread layoffs, with an estimated 9,000 workers affected. Major companies like Epic Games, Embracer Group, and others have cut their workforce significantly due to financial strains and failed investments. Epic Games, despite its profitable ventures like Fortnite and Unreal Engine, laid off 830 employees, while Embracer Group let go of over 900 after a $2 billion deal collapsed. The industry has seen layoffs across the board, including at Hasbro, EA, and BioWare, among others. This trend contrasts with Nintendo's past approach of prioritizing employee retention over short-term profits. Unionization efforts have gained traction as a protective measure for developers, but the overall sentiment is that a year so detrimental to game developers cannot be considered great for games.