Winter of Pink Slips: Many Layoffs Today, Not Limited to Microsoft's Latest Wave of Mass Layoffs

posted by Roy Schestowitz on Oct 24, 2023

A slip by any other name...

The local time here is 4PM (still morning in the US!) and last week's memos cautioning about mayhem this week are beginning to find vindication as predictions materialise. This afternoon alone we've found many reports about layoffs, e.g. [1-8] (there are lots more, even outside banking and technology).

The "skills shortage" and "work shortage" canard is being unraveled quickly. If so many workers became "available" (out of work), is there really a shortage? A shortage of what, people or money (to pay salaries)?

We're keeping an eye on rumours and speaking to sources who can tell us more about the situation at Microsoft. No company attacks GNU/Linux as much as Microsoft does; not even close! █

Related/contextual items from the news:

1. LittleBigPlanet, Dreams Developer Media Molecule Reportedly Planning To Lay Off 20 Employees

   PlayStation first-party studio Media Molecule, which is the team behind Dreams and LittleBigPlanet, is reportedly set to layoff around 20 employees. That's according to a new report from Sports Illustrated's GLHF, which states the news of impending layoffs was revealed during an internal meeting held today at the studio.

   The layoffs are set to reduce team staff by 15 to 20%, with a headcount reduction of 135 to 115, according to GLHF. The report doesn't indicate a specific reason why beyond staff reduction, but Game Informer has reached out to PlayStation to confirm the layoffs and associated numbers, why the layoffs might be happening, and if affected employees will receive severance; we will update the story if we learn more or receive comment back from PlayStation.

2. Dreams and LittleBigPlanet studio Media Molecule is reportedly laying off 15-20% of staff

   Dreams and LittleBigPlanet developer Media Molecule is to lay off 15-20% of its staff, according to a new report.

3. Everything We Know About the Layoffs at *Spins Giant Wheel* …Sony!

   Howdy gamers, welcome to today’s coverage of layoffs in the gaming industry. With era-defining titles like Tears of the Kingdom, Baldur’s Gate 3, and Spider-Man 2 all releasing this year, we’ve not been able to give the rampant, heinous mass layoffs and firings within the industry as much attention as we’d like around here. As such, we’ve been reduced to spinning this wheel we keep in the office to see what gets the limited coverage we’re allotted on the issue. Okay everyone, here’s the saddest part of my week, are you ready? Let’s Spin! That! Wheel!

4. PlayStation-Owned Company Hit With Layoffs

   The PlayStation-owned Visual Arts studio was recently confirmed to have been hit with a wave of layoffs, seeing several senior designers departing the Sony support studio. While many fans may be more familiar with first-party studios like Naughty Dog and PlayStation Studios, support studios play a vital role in the production of many of gaming's most popular titles. Supporting developers like Studio Gogo have helped bigger studios to finish several major releases like Hogwarts Legacy and Redfall among others. Now, a reputable support studio is facing a new wave of layoffs.

   PlayStation Studios' Visual Arts Group helped Sony with some of the developer's biggest release since the support studio was established in 2007. The Visual Arts Group typically works with Sony's first-party developers on major game releases, including Naughty Dog and Santa Monica Studio among others. Visual Arts Group was also majorly involved in the release of The Last of Us Part 1 last year, originally working on the project before Naughty Dog took over development. Now, PlayStation Studios' Visual Arts Group is parting ways with several employees.

5. Roblox China Unit Faces Layoffs as Operational Challenges Mount

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6. Wells Fargo Layoffs: CEO Signals New Jobs Cuts Despite Strong Earnings

   Wells Fargo (WFC), a US financial services company and third largest bank in the country announced that there are more job cuts ahead as a part of its massive $10 billion expense reduction efforts.

   The news follows a wave of layoffs at Wells Fargo over the past couple of years, which saw the company’s headcount shrink from 268,500 in 2020 to 233,800 in the second quarter of 2023 (a -12.92% decrease).

7. The Global Tech Industry Has Recorded More Than 240,000 Jobs Lost in 2023

   Facing an uncertain global economy and slowing revenue growth, the tech industry across the globe has so far recorded a significant amount of layoffs in 2023.

   According to data compiled by Layoffs. fyi, the online tracker keeping tabs on job losses in the technology sector, 1,069 tech companies have laid off about 244,342 staff so far this year, compared to 164,411 total layoffs last year.

8. Polkadot Blockchain Developer to Eliminate About 30% of Staff

   Parity Technologies, the blockchain infrastructure company behind the Polkadot platform, will cut 30% of its workforce, or about 100 employees, as part of its plan to “shift” focus to its technology.