January 2024 has been a challenging month for many developers and publishers, and it seems to be reflective of a tough year overall.
2023 proved to be a year of corporate resets as the unprecedented success and growth of 2021 and 2022 turned out to be temporary rather than sustained, with companies realizing the reality of 2023 resembling more of 2020. This has led to widespread layoffs, restructuring, and downsizing across the industry.
Here’s a summary of the major pivots, layoffs, and corporate movements in the industry during the first month of 2024:
Unity to lay off 1,800 staff as it continues company reset
January 4th. Unity has announced a major restructuring, with approximately 1,800 employees being laid off, accounting for 25% of its entire global workforce. This follows previous job cuts and the termination of its deal with Lord of the Rings VFX studio Weta in a bid to streamline the company’s operations.
Twitch slashes 500 jobs – 35% of its staff – in latest cuts
January 10th. Despite its popularity and increased user base during the pandemic, Twitch has struggled financially, leading to a 35% reduction in staff, following a series of previous layoffs and executive departures.
Cookie Run makers Devsisters cut staff at US office
January 11th. Devsisters downsizes its US office, affecting key team members, but the office itself will remain operational.
Unity restructure sees six ironSource co-founders step down
January 11th. Following the staff cuts at Unity, a restructuring of the board saw six key ironSource figures move to non-executive roles.
Playtika to cut 300 – 400 more jobs in latest rounds of layoffs
January 11th. Playtika, which had previously laid off 600 employees, is now expected to cut an additional 300 to 400 jobs due to financial challenges.
Discord to cut 17% of its workforce
January 12th. In response to slower growth, Discord has laid off 17% of its staff in a bid to cut costs and streamline operations.
Netspeak CEO announces the loss of approximately 25 jobs
January 16th. Netspeak has announced the loss of approximately 25 jobs due to financial challenges, despite initial success.
Google lays off 1,000+ employees in stealth as AI takes on the workload
January 16th. Following previous layoffs, Google has quietly let go of over a thousand employees as it transitions to a more AI-driven operation.
Thunderful Group to lay off 20% of workforce in the first half of 2024
January 17th. Thunderful Group plans to lay off approximately 20% of its workforce in a restructuring effort aimed at strengthening its long-term competitive position.
Layoffs confirmed at Choices: Stories You Play maker, Pixelberry Studios
January 18th. Pixelberry Studios has confirmed layoffs affecting various roles in the company, following its acquisition by Nexon.
Support studio PTW cuts 45 positions as game industry layoffs continue
January 18th. PTW has let go of 45 employees, primarily in QA, as part of a larger industry trend of layoffs.
Riot Games trims workforce in new layoffs, cuts 500 jobs
January 23rd. Riot Games has laid off 11% of its staff, around 530 jobs, in response to increasing expenses.
YouTube Games chief Leo Olebe is among 100 job cuts in their gaming division
January 24th. YouTube has laid off approximately 100 employees, including gaming chief Leo Olebe, as part of a broader restructuring by Google.
Blizzard president Mike Ybarra is out as Microsoft lays off 1,900
January 25th. Following Microsoft’s takeover of Activision Blizzard, 1,900 employees have been laid off, including Blizzard president Mike Ybarra.
This article will be updated as more news unfolds.
Photo by Hennie Stander on Unsplash
