Topic: employee layoffs
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Crystal Dynamics Lays Off 30 Staff in Third Round of Tomb Raider Cuts
Crystal Dynamics has laid off nearly 30 employees in its third round of job cuts this year, part of a restructuring to position the company for future growth and optimize development processes. The layoffs aim to streamline operations for the next Tomb Raider game and prepare the studio to develo...
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Square Enix Lays Off Staff in Major US and Europe Restructuring
Square Enix is restructuring its US and European operations, leading to employee layoffs and the consolidation of publishing divisions to centralize core development in Japan and optimize resource allocation. The company expects to incur a one-time expense of about $76.8 million but projects annu...
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Arcade1Up's Future: Alive and Kicking
Arcade1Up is undergoing a major operational shift, with most staff departing, but its intellectual property and product lines are expected to continue under new management. The transition raises immediate concerns for owners about product support, warranties, and parts, though current systems are...
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Xbox Boss Phil Spencer Denies Retirement Rumors
Microsoft's gaming division, including Xbox, faced significant layoffs, leading to the cancellation of high-profile projects like "Everwild" and an unannounced MMO, though Phil Spencer remains in his leadership role. Xbox confirmed Phil Spencer has no plans to retire, debunking rumors of his depa...
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Rad Power Bikes Could Shut Down in January Without Funding
Rad Power Bikes may permanently shut down in January if it fails to secure new funding or a buyer, as revealed in an internal email to employees. The company is struggling with a sharp decline in consumer demand, excess inventory, and financial pressures from tariffs and a tough macroeconomic env...
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Xbox President: Our Real Rival Is TikTok, Not PlayStation
Xbox now views digital entertainment platforms like TikTok and movies as its main competition, shifting focus from traditional rivals like PlayStation to reach players across all devices. The company is breaking from console exclusivity by bringing major franchises like *Halo* to PlayStation 5, a...
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Microsoft's Xbox Price Hikes, Studio Closures Driven by Profit Goals
Microsoft's Xbox division is implementing price increases, studio shutdowns, and layoffs to meet a new corporate mandate for a 30% profit margin, set by CFO Amy Hood in late 2023. This target is significantly higher than the industry's typical 17-22% margin and more than double Xbox's 12% margin ...
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Meta Shuts Down Three VR Studios in Metaverse Cuts
Meta is laying off about 10% of its Reality Labs workforce and closing several VR game studios, including Twisted Pixel, Sanzaru, and Armature, as part of a strategic shift. The company is reallocating investment away from some metaverse software initiatives and toward the wearables market, such ...
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Hyundai's Supernal Loses More Execs in Air Taxi Shake-Up
Hyundai's electric air taxi venture Supernal is undergoing a significant leadership transition, with key executives including the Chief Strategy Officer and Chief Safety Officer departing as part of a strategic reassessment. The company is pausing its core air taxi development program and has fac...
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Microsoft Cuts Funding for John Romero's New Game, Studio Faces Layoffs
Romero Games faced sudden layoffs after Microsoft withdrew funding for John Romero's upcoming FPS, leaving the studio's future uncertain. Affected employees expressed devastation, with over a dozen staff members confirming job losses and calling the situation tragic. The cancellation is part of M...
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Elon Musk Settles $128M Twitter Exec Lawsuit
Elon Musk and four former Twitter executives have reached a confidential settlement over a lawsuit concerning more than $128 million in unpaid severance, with terms dependent on Musk fulfilling certain conditions. The lawsuit alleged that Musk expedited his $44 billion acquisition of Twitter to p...
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