Speakerhats off to Atari | This Week in Business
Every layoff tells its own story, but with so many layoffs this year, there's one version of the story that is getting beaten into the ground.
This week we saw a few clear examples of it; see if you can spot the common thread.
QUOTE | "We regularly review our businesses and make adjustments to centre on long-term strategic growth areas. Following a recent review, we've made the difficult decision to restructure our gaming business." – A representative with ByteDance explains why the TikTok owner is getting out of games entirely in a restructuring likely to result in hundreds of layoffs.
QUOTE | "Frontier's move to diversify its game portfolio during the last five years, including through third-party publishing and new games in 'adjacent genres', has not delivered the anticipated success. As a result, the Company has refocussed on [creative management simulation] games which have delivered stronger and more predictable returns through Frontier's expertise and leadership in that genre." – Frontier Developments explains why it's focusing on the genre that gave it hits like Planet Coaster, Jurassic World Evolution and Planet Zoo. Naturally, it announced layoff plans last month and also confirmed the demise of Foundry, the publishing label it established during the pandemic.
QUOTE | "Each studio has its own strengths and weaknesses, but the favorable winds of the early Covid-19 period, coupled with the strong performance of each title, led us to adopt a strategy of accelerating more, even in areas where those studios have not tried yet for further growth. However, some studios did well and some did not, so we have decided to focus again on the strength of each studio." – In a presentation to investors, Sega Sammy CEO
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