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PlayStation laying off 900 workers, closing PlayStation Studios London
(www.polygon.com)
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this post was submitted on 27 Feb 2024
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My pipe dream is a bunch of new indie studios forming out of all these layoffs and kicking publisher‘s asses on sales with new competent and passionate games.
…But I guess they‘d then probably sell to those publishers again and repeat…
The largest factor is lack of capital, which is something everyone is enduring due to the SVB collapse. This is a giant recession of the entire sector and I don't see how it corrects any time soon.
Some are saying it'll correct this year, but I'm not holding my breath...
While breathing is cool, I have some hope that it will start correcting this year or next.
The big thing is that the raised interest rates have helped to prevent a real recession. So the real question is when can they come back down. I hope it starts this year even though it'll likely take years to go back to what they were pre-pandemic, if the go that low again.