"Gaming Industry in Crisis: Explaining the Wave of Layoffs at Riot, Epic, and More"

Game developers from various studios, including Riot and Epic, have been hit hard by mass layoffs, with over 10,000 layoffs in 2023 and over 6,000 more in 2024. The pandemic is often cited as a factor, but the issue goes beyond that, with overspending, overhiring, and risky investments contributing to the problem. The industry's increasing volatility and high costs, combined with a reliance on outside investors, have led to a riskier and more expensive environment for game development, resulting in widespread layoffs and a demoralized workforce.