- 2023 proved to be a year of corporate resets as the impossible, stellar, flash-in-the-pan success and growth of 2021 and 2022 turned out to be temporary.
- Many companies in the gaming industry that anticipated endless growth have had to reduce staff and scale back plans in 2024.
- Below is an updated list of companies that have undergone pivots, layoffs, and restructurings so far in 2024.
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The past year has been one of the most challenging in the history of the games industry.
2023 was a reality check for companies that were riding high on the success of the previous years, only to realize that the growth was not sustainable. As a result, many companies have been forced to downsize and reevaluate their strategies in 2024.
Below is a round-up of the latest announcements and updates on layoffs and restructuring efforts in the gaming industry.
August 2024
Intel to lay off 15,000 staff as part of $10 billion cost savings plan
August 2nd. Intel plans to lay off around 15,000 employees as part of a new cost-saving initiative totaling $10 billion. The job cuts will affect 15% of the workforce, with most layoffs expected to be completed by the end of the year. CEO Pat Gelsinger highlighted the need to improve Intel’s cost structure to remain competitive.
July 2024
Bungie to lose 220 staff as it takes “a new path”
July 31st. Bungie, the well-known developer behind Halo and Destiny franchises, is letting go of 220 employees as the company charts a new course to address losses and prepare for future projects.
Lively Studio undergoes layoffs for the sake of “long-term health”
July 29th. The developer of Warped Kart Racers is implementing layoffs as part of a restructuring effort to streamline operations for long-term sustainability.
Humble Games denies shutting down after reportedly laying off all staff
July 23rd. Humble Games faced rumors of a shutdown after reports of all staff being laid off. However, the company has denied these claims and continues to operate.
Perfect World CEO and co-CEO resign after mass layoffs
July 22nd. Perfect World’s CEO and co-CEO stepped down following large-scale layoffs across multiple offices in China.
Mortal Kombat studio NetherRealm lays off mobile team
July 18th. NetherRealm, the developer behind Mortal Kombat, has laid off its mobile game development team, impacting around 50 employees.
160 jobs axed as Scottish animation firm Axis Studios goes into administration
July 16th. Scotland-based Axis Studios has entered administration, leading to the redundancy of 162 staff due to financial challenges.
BeReal hit by layoffs following Voodoo acquisition
July 1st. Photo-sharing app maker BeReal experienced layoffs affecting 28 employees following its acquisition by Voodoo.
June 2024
Gameloft Toronto lays off 49 staff
June 28th. Gameloft’s Toronto office laid off 49 employees, with the studio’s projects being transferred to other locations.
One Punch Man: World developer Perfect World lays off as many as 1,000 staff
June 26th. Perfect World laid off up to 1,000 employees in China, with a focus on its games operations.
Sumo Group to lay off up to 15% of staff
June 11th. Sumo Group announced potential layoffs affecting up to 15% of its workforce across multiple global studios.
May 2024
Playtika eliminates CRO and COO positions in new job cuts
May 14th. Playtika restructured its executive positions by eliminating the chief operating officer and chief revenue officer roles.
Square Enix braces for layoffs in US and Europe
May 13th. Square Enix announced upcoming layoffs at its US and European offices as part of restructuring efforts.
Australian dev Mighty Kingdom layoffs of 28% of staff
May 13th. Australian developer Mighty Kingdom laid off 28% of its employees to streamline operations.
Microsoft closes Mighty Doom dev Alpha Dog, Arkane Austin, Tango Gameworks and more
May 7th. Microsoft shut down multiple studios, including Alpha Dog Games, Arkane Austin, and Tango Gameworks, while consolidating resources for other projects.
April 2024
Kwalee layoffs impact up to 10% of workforce, report claims
April 16th. Kwalee laid off approximately 10% of its workforce to optimize growth opportunities.
GTA publisher Take-Two to cut 5% of staff as it cancels new games
April 16th. Take-Two laid off 5% of its employees and canceled projects to reduce costs and focus on key priorities.
InnoGames to undertake a “strategic realignment” and job cuts
April 13th. InnoGames announced a strategic realignment to increase agility and efficiency, resulting in job cuts.
Ubisoft’s woes continue with 45 further redundancies across the globe
April 2nd. Ubisoft faced more layoffs affecting 45 staff members as part of ongoing efforts to improve efficiency.
March 2024
Sega lays off 240 employees and sells Relic Entertainment
March 28th. Sega laid off 240 employees and sold Relic Entertainment to focus on core business operations.
Tennis Clash developer Wildlife Studios lays off 133 staff
March 4th. Wildlife Studios laid off 133 employees as part of restructuring efforts while continuing to invest in new projects.
February 2024
EA lays off 5% of staff as it cuts licensing deals and closes offices
February 28th. EA made significant layoffs, closed offices, and realigned its focus to prioritize growth initiatives.
136 jobs cut as Blizzard axes 68% of employees in Ireland
February 19th. Blizzard laid off 136 employees in Ireland, representing 68% of the office’s workforce, following the Microsoft acquisition.
Popcore undergoes “wave of layoffs” impacting key staff
February 13th. Popcore faced layoffs affecting key staff members, raising concerns about the studio’s future.
Global layoffs at Gameloft as staff in Ukraine and Canada confirm redundancies
February 22nd. Gameloft announced layoffs at its Toronto and Lviv offices, affecting at least 38 employees.
Sony Interactive Entertainment axes 900 staff across the globe
February 27th. Sony Interactive Entertainment laid off 900 employees globally, impacting various studios and regions.
Unity to lay off 1,800 staff as it continues company reset
January 4th. Unity implemented a significant workforce reduction, letting go of 1,800 employees as part of a strategic restructuring plan.
Twitch slashes 500 jobs – 35% of its staff – in latest cuts
January 10th. Twitch laid off 500 employees, representing 35% of its workforce, to address financial challenges and realign operations.
Cookie Run makers Devsisters cut staff at US office
January 11th. Devsisters downsized its US office, impacting key team members, but clarified that the office will remain operational amid financial challenges.
Unity restructure sees six ironSource co-founders step down
January 11th. Unity’s restructuring efforts led to six ironSource co-founders stepping down from their roles to realign the company’s leadership.
Playtika to cut 300 – 400 more jobs in latest rounds of layoffs
January 11th. Playtika announced further layoffs affecting 300 to 400 employees as part of ongoing restructuring efforts.
Discord to cut 17% of its workforce
January 12th. Discord laid off 17% of its employees to streamline operations and improve efficiency amid slowing growth.
Netspeak CEO announces the loss of approximately 25 jobs
January 16th. Netspeak faced layoffs affecting around 25 employees as the company reevaluates its financial position and operational strategy.
Google lays off 1,000+ employees in stealth as AI takes on the workload
January 16th. Google quietly laid off over 1,000 employees as part of a gradual reduction in workforce while integrating AI technologies into various operations.
Thunderful Group to lay off 20% of workforce in the first half of 2024
January 17th. Thunderful Group announced plans to lay off 20% of its workforce to strengthen its competitive position through restructuring efforts.
Layoffs confirmed at Choices: Stories You Play maker, Pixelberry Studios
January 18th. Pixelberry Studios underwent layoffs impacting various roles within the company, as confirmed by Nexon following the acquisition.
Support studio PTW cuts 45 positions as game industry layoffs continue
January 18th. PTW reduced its workforce by 45 positions, primarily in QA and other departments, amid ongoing layoffs in the gaming industry.
Riot Games trims workforce in new layoffs, cuts 500 jobs
January 23rd. Riot Games laid off 11% of its staff, totaling around 530 jobs, to manage expenses and focus on core initiatives.
YouTube Games chief Leo Olebe is among 100 job cuts in their gaming division
January 24th. YouTube’s gaming division cut 100 jobs, including key executive Leo Olebe, as part of Google’s restructuring and cost-cutting measures.
Blizzard president Mike Ybarra is out as Microsoft lays off 1,900
January 25th. Blizzard president Mike Ybarra was among the 1,900 staff laid off by Microsoft following the completion of the acquisition, affecting various roles across the newly merged companies.
This article will be updated as more information becomes available…
Photo by Hennie Stander on Unsplash
