"Grim Outlook: The Troubling Trend of Layoffs in the $180bn Video Game Industry"

Despite a successful year for video games in 2023, the industry has seen widespread redundancies, with major companies like Microsoft, Epic Games, and Electronic Arts shedding thousands of staff. Factors driving the layoffs include the aftermath of Covid-19, revenue projection corrections, raised interest rates, and high inflation. The industry's reliance on external investment, aggressive mergers and acquisitions, and the potential rise of artificial intelligence in game development are also contributing to the job losses. As a result, there is growing pressure for industry self-regulation and unionization among development staff, while companies are expected to focus on safer bets and known hits to sustain and fund risks.