More Embracer Group cuts revealed as Lost Boys Interactive hit with "massive" layoffs
More Embracer Group cuts revealed as Lost Boys Interactive hit with "massive" layoffs
Lots Boys Interactive, a game development studio with over 400 team members, got hit with what was called "massive" layoffs today as part of the continuing restructuring of the Embracer Group.
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Do they think funding works like human sacrifice? You lost money... so you're firing the people... who made you money. After you bought their company, when it were making money, so they could make you money. Instead of, I don't know, selling them off?
"Spend less money" doesn't make you more money. That's a different department.
You know that and maybe they know it as well. But the investor overlords want to see big number go up.
I think the idea that everyone can invest in companies and demand their undying loyalty is pretty stupid.
Someone hinted at the fact that ceos used to be bound to stakeholders (customers, employees, community) instead of shareholders. Some court decision is said to have broken this. I searched for it a couple of times but cant find it. Anyone have the source of this?
Big number not go up if peons no worky. No peons, no worky.
Video games are the platonic ideal of labor producing value. There's no factory. There's no materials. You can't hire scabs to make the same game. It simply does not work that way. And yet.
You obviously know how the basics of software engineering work. Investors dont need to know that. They only need to have money. Here‘s an article about layoffs that shows how basic that though is: https://money.com/tech-layoffs-affect-stock-prices/ (layoffs = good decision, stock price go up). Its obviously a little more complicated than that but imo it hints at why layoffs below a certain percentage might encourage investors.
Embracer Group were expecting a massive investment to fund all their recent aquisitions (2 billions I think?) that fell through. So they have been cutting and closing studios ever since.
Right, like if you finance a new car but don't get a raise, so you set it on fire.