Maybe I am just out of the loop, or fail to connect the dots. What's with a whole bunch of gaming companies laying off people or canceling projects? Is it simply the bad economy all over the world? Because that has been going on for a while, so why so many companies doing this just now, and all at once? A lot of games have been shit too for a while, so it's probably not that either. Do they have to publish quarterly reports in the upcoming days, and are trying to get ahead of the bad news by pretending that they have already done something about the issue?
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During Covid there was a lot of bets that people would spend more on videogames at home. So, big companies hired more people and had teams making games they had no skills in. The game as service idea was also the big thing. When all of them failed, the companies started tossing people away.