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[Unknown?]

In America. We don't care about the debt. The debt has been crazy for years, but it doesn't change how people live day-to-day.

I watch mainstream market news all the time. It's how I know for 100% a fact that our economy is not horrible. In some respects, it's doing good. In others, bad. But again, this is in America. I can't speak for other countries.

Mainstream market news is a joke. Anything Jim Cramer says is the opposite. Market news was trying to convince people things were fine just weeks up to the great recession. They were saying SVB was fine just days before it went under.

Record credit card debt is also a thing here. That does sound healthy, when the average person has to rack up debt to live the same way they always have.

 

[LaughingStock]

 

[Ozriel]

Yeah, this isn't in great taste. Especially when he doesn't work for MS and isn't a recruiter.

So basically redundant roles from the buyout. That makes sense. Those people probably saw this coming though.

Quite a number of those tweets say they didn't see it coming.

 

[diffusionx]

Companies shouldnt be allowed to buy other companies for $3.2 billion only to lay them off months later.

If you cant afford to pay these employees, you clearly dont have enough cash to support them. We should make laws to limit layoffs at acquired companies for at least 5-10 years. I cant go out and sign a contract for a 12 months of lawn services then cancel it because i couldnt afford to pay people to mow my lawn anymore. if i dont pay my outstanding bill, it gets sent to collections. Maybe sony, ms, tencent and embracer consolidating the industry should be held to the same standards.

Actually it's the opposite, Sony set aside a significant amount of money to keep Bungie talent on board for exactly the reason you say. I don't know why these layoffs are happening but it's not because Sony bought them with the intention of gutting them a la Carl Icahn in the 80s.

 

[Shifty1897]

In America. We don't care about the debt. The debt has been crazy for years, but it doesn't change how people live day-to-day.

I watch mainstream market news all the time. It's how I know for 100% a fact that our economy is not horrible. In some respects, it's doing good. In others, bad. But again, this is in America. I can't speak for other countries.

I can confirm that I am the only person (aside from maybe Rand Paul) who worries about the US's national debt. That shit keeps me up at night.

 

[Chuck Berry]

Companies shouldnt be allowed to buy other companies for $3.2 billion only to lay them off months later.

If you cant afford to pay these employees, you clearly dont have enough cash to support them. We should make laws to limit layoffs at acquired companies for at least 5-10 years. I cant go out and sign a contract for a 12 months of lawn services then cancel it because i couldnt afford to pay people to mow my lawn anymore. if i dont pay my outstanding bill, it gets sent to collections. Maybe sony, ms, tencent and embracer consolidating the industry should be held to the same standards.

I propose you change your name to SmartySnake

 

[TheBomb]

Bungie was just an emotional buy when Microsoft announced their acquisition of Activision.

 

[graywolf323]

The irony considering that Microsoft alone fired more people than the entire gaming industry combined this year, this wile evading taxes and gearing up to spend 70B on an acquisition.

you have to understand that at this point people have the memory of a goldfish on social media (especially the fanboys)

 

[Guntherlibby]

Actually it's the opposite, Sony set aside a significant amount of money to keep Bungie talent on board for exactly the reason you say. I don't know why these layoffs are happening but it's not because Sony bought them with the intention of gutting them a la Carl Icahn in the 80s.

Hate to say it but HR, Finance, and Comms does not fall under "talent" when it comes to the live service secret sauce that a studio is acquired for

 

[Guntherlibby]

Bungie was just an emotional buy when Microsoft announced their acquisition of Activision.

There was like 2 weeks between the announcement of MS buying Activision and Sony buying Bungie.

Acquisitions do not take 2 weeks.

 

[Calverz]

Bungie are wasted at Sony. Literally hired to just tell Sony how to make GAAS titles. Shame.

 

[mckmas8808]

Quite a number of those tweets say they didn't see it coming.

Well.....why not? Sony and Bungie said it in their PR statement when they made the deal. About $1.2 Billion was given to Bungie to keep talent for a year. Some of it went to them for the first 12 months and the rest would go to Bungie to keep talent for the next few years.

They knew part of that $1.2 Billion was going to run out after one year.

 

[TheInfamousKira]

Happening now?!

Can we get a live tag?

 

[X-Wing]

Happening now?!

Can we get a live tag?

You right now:

 

[Banjo64]

Why do we get these kind of threads each and every day now ? Does it come as a suprise that the economy is fucked up right now and companies need to fire staff?

The funniest thing is seeing the users who make the thread and realising this is just ammunition in their pathetic brand war.

 

[Roxkis_ii]

I know for 100% a fact that our economy is not horrible. In some respects, it's doing good. In others, bad. But again, this is in America. I can't speak for other countries.

Man, I keep seeing people say that, but being lower middle class, it feels like shit is hitting the fan in the US. Price of almost everything has gone up but wages remain stagnant for non union jobs and the used car market still looks crazy. If this isn't bad, I'm scared to find out what bad actually is.

 

[C2brixx]

The funniest thing is seeing the users who make the thread and realising this is just ammunition in their pathetic brand war.

Why do folks always go after the messenger when there is bad news they don't like?

 

[Banjo64]

Why do folks always go after the messenger when there is bad news they don't like?

I neither like nor dislike this news.

 

[adamsapple]

I neither like nor dislike this news.

Someone needs their cum smoothie topped off this morning.

 

[HeisenbergFX4]

Why do we get these kind of threads each and every day now ? Does it come as a suprise that the economy is fucked up right now and companies need to fire staff?

The funniest thing is seeing the users who make the thread and realising this is just ammunition in their pathetic brand war.

With the recent news at Sony and the "leaks" they could be pivoting away from GAAS I think it could point to some pretty big news

In no way am I suggesting doom and gloom for Sony and in fact IF this means moving off so much GAAS personally I think its trending in the right direction (not the people losing their jobs part)

 

[gatti-man]

Man, I keep seeing people say that, but being lower middle class, it feels like shit is hitting the fan in the US. Price of almost everything has gone up but wages remain stagnant for non union jobs and the used car market still looks crazy. If this isn't bad, I'm scared to find out what bad actually is.

Were you around in 2008? That's bad. This is like stubbing your toe in comparison.

 

[X-Wing]

I am sorry, but there is an issue far more important that was raised on this thread and I haven't seen it being debated enough yet.
Do American's really think that "Europe can't cope with the freezing weather because they don't have energy."?

 

[Nydius]

Were you around in 2008? That's bad. This is like stubbing your toe in comparison.

I was around in 2008 and hadn't yet fully recovered from the Enron clusterfuck in the years before. This is just as bad. Not in terms of people losing their houses bad but in a different, equally nefarious, way of people can't afford basic cost of living goods. Inflation didn't skyrocket nearly as bad in 2008 and with the subsequent bank and auto bailouts.

Present day, people are having to choose between food and utilities. If you already have a house, great, but if you don't, well, you can forget buying one as realtors now want 20% down or more with 10-15% fees and closing costs with mortgages at the highest interest rates in 25 years. Wages have continued to stagnate while the purchasing power of the dollar has declined rapidly over the last 3 years.

I'd rather have 2008 than this. 2008 sucked, people lost their homes and their 401k's... but when the economy rebounded, everything wasn't double what it cost before.

 

[mckmas8808]

Man, I keep seeing people say that, but being lower middle class, it feels like shit is hitting the fan in the US. Price of almost everything has gone up but wages remain stagnant for non union jobs and the used car market still looks crazy. If this isn't bad, I'm scared to find out what bad actually is.

It's not great for everyone, but 2008-2009 was what bad really looked like. That was the Great Recession. The unemployment numbers are still too low for our economy to be considered "BAD" per say. And wages are still going up, just not as fast as the cost of living. :-(

But back in 2008, wages were going down fast and everyone was losing their jobs like crazy. And there weren't many job openings to apply for. Nowadays, there's PLENTY of job openings to apply for.

 

[Withnail]

So is industry consolidation good or bad now?

Also wtf at Klobrille volunteering as a recruiter for a trillion dollar company. I think I'm going to throw up.

 

[Klosshufvud]

The more consolidation we have, the more layoffs will happen. Enjoy your new future.

 

[Wastelander92]

In America. We don't care about the debt. The debt has been crazy for years, but it doesn't change how people live day-to-day.

I watch mainstream market news all the time. It's how I know for 100% a fact that our economy is not horrible. In some respects, it's doing good. In others, bad. But again, this is in America. I can't speak for other countries.

Just pure greed. Like most "inflation".

 

[DonkeyPunchJr]

Were you around in 2008? That's bad. This is like stubbing your toe in comparison.

Yup, 2008 you had college grads competing to get jobs at Starbucks. Some banks collapsed and others were rescued by the fed. My 401K dropped 49% in one year. GM and Chrysler both likely would've gone out of business if not for the bailouts. Tons of people had mortgages for 10x their income and walked away when they were underwater.


There's lots of shit wrong with our economy but it could be so much worse. Target by me is starting people at $16/hr, the Panda Express next door starts at $15, and they still can't hire enough people. The inflation + interest rates are painful but this is nowhere near what a real financial crisis looks like.

 

[mckmas8808]

I was around in 2008 and hadn't yet fully recovered from the Enron clusterfuck in the years before. This is just as bad. Not in terms of people losing their houses bad but in a different, equally nefarious, way of people can't afford basic cost of living goods. Inflation didn't skyrocket nearly as bad in 2008 and with the subsequent bank and auto bailouts.

Present day, people are having to choose between food and utilities. If you already have a house, great, but if you don't, well, you can forget buying one as realtors now want 20% down or more with 10-15% fees and closing costs with mortgages at the highest interest rates in 25 years. Wages have continued to stagnate while the purchasing power of the dollar has declined rapidly over the last 3 years.

I'd rather have 2008 than this. 2008 sucked, people lost their homes and their 401k's... but when the economy rebounded, everything wasn't double what it cost before.

I'm sorry but this is insane thinking bro. We had a net 300,000 people losing jobs every month. Now we have a net 200,000 people "Getting" a job now. And losing your homes isn't easy. It's puts a huge strain on the family, but also the banks and insurance companies.

If you can't afford to buy a home, cool.....just keep renting for now. Now need to force yourself to "own" a home, when the time isn't right.

 

[Tarnpanzer]

From a german perspective reading about that man who worked more than 20 years and just gets fired is just mindblowing.

Here in germany with over 20 years at the same company you would be a permanent who cannot be fired under normal circumstances.

 

[mckmas8808]

Yup, 2008 you had college grads competing to get jobs at Starbucks. Some banks collapsed and others were rescued by the fed. My 401K dropped 49% in one year. GM and Chrysler both likely would've gone out of business if not for the bailouts. Tons of people had mortgages for 10x their income and walked away when they were underwater.


There's lots of shit wrong with our economy but it could be so much worse. Target by me is starting people at $16/hr, the Panda Express next door starts at $15, and they still can't hire enough people. The inflation + interest rates are painful but this is nowhere near what a real financial crisis looks like.

Exactly! And don't forget we now have the new GIG economy. If you need some extra money (on top of the $16/hr at Target) you can do.......

- Uber
- UberEats
- Dog-Walker ($17/hr)
- DoorDash (depending on city $15/hr)
- Lyft (depending on city $17/hr)
- Instacart ($13/hr)
- Roadie (starting around $20/hr)
- TaskRabbit (starting around $20/hr)
- Amazon Flex ($18/hr before expenses)
- Shipt ($12/hr)



NONE of these companies or possibilities existed in 2008.

 

[Jinzo Prime]

Yeah, get a job at Xbox and then get laid off from there too. Did he just forget Microsoft also axed 10,000 employees in January and then another 1000 in July? It's an industry wide problem.

Klobrille will never let an opportunity to bat for Xbox pass him by though. Quite possibly the most pathetic creature online given how much effort he puts in for free.

He's referencing these tweets that came from Sony during Microsoft's lay-off period:





Not defending that twat, just playing devil's advocate.

 

[Schmick]

Why do we get these kind of threads each and every day now ? Does it come as a suprise that the economy is fucked up right now and companies need to fire staff?

So thay we can say "Evil Sony" or "Evil MS" in a sentence to fuel console wars.

 

[Wastelander92]

He's referencing these tweets that came from Sony during Microsoft's lay-off period:





Not defending that twat, just playing devil's advocate.

Tbf those are official accounts not a fanboy one.

 

[Thirty7ven]

Multi-billion company buyouts i've seen before, experienced it even, had jobs security assured for 2~3 years, the buyer could not even lay a finger.

So the story here is that Bungie is laying off people, not PlayStation. Not that that isn't happening to PlayStation studios, Im just saying this because Im pretty sure Bungie is the one making the decision here.

 

[Hudo]

From a german perspective reading about that man who worked more than 20 years and just gets fired is just mindblowing.

Here in germany with over 20 years at the same company you would be a permanent who cannot be fired under normal circumstances.

You also get a right to 30 days of paid vacation by law and the employer can get in trouble if he's violating that.

But it's no use to compare Germany or any other country to the US. Different cultures just work differently. And the US is a different culture. Some things are better in the US other things are worse.

 

[StreetsofBeige]

The funniest thing is seeing the users who make the thread and realising this is just ammunition in their pathetic brand war.

I neither like nor dislike this news.

As if youre neutral. You're always ragging on MS. Dont forget this beauty you did when MS laid off 10,000 people. Its not like Sony is dead broke. Where's you're tiny brown speck analogy this time?

"Microsoft is laying off 10,000 people today, including in its gaming divisions such as Xbox and Bethesda."

Lay offs suck no matter the number, but it is a lot for them. I hate when massive companies do this, it should be a last resort and should NOT happen when you can buyout companies/have a net worth that big. This includes Amazon and Apple. Either way, I hope everyone lands on their feet...

www.neogaf.com

Aren't Microsoft absolutely creaming it in the post pandemic world? Even more so than usual. Those 10k salaries are not even a tiny brown speck of shit in egg's bloomers.

Just googling 'microsoft profit' gave me this as the top result;

Microsoft gross profit for the quarter ending September 30, 2022 was $34.670B, a 9.47% increase year-over-year.
Microsoft gross profit for the twelve months ending September 30, 2022 was $138.619B, a 14.21% increase year-over-year.

 

[Fake]

As if youre neutral. You're always ragging on MS. Dont forget this beauty you did when MS laid off 10,000 people. Its not like Sony is dead broke. Where's you're tiny brown speck analogy this time?

"Microsoft is laying off 10,000 people today, including in its gaming divisions such as Xbox and Bethesda."

Lay offs suck no matter the number, but it is a lot for them. I hate when massive companies do this, it should be a last resort and should NOT happen when you can buyout companies/have a net worth that big. This includes Amazon and Apple. Either way, I hope everyone lands on their feet...

www.neogaf.com

Indeed I saw a loads of playstation fans here in this thread with those stupid double standarts... ironic.

 

[AJUMP23]

Sometimes you have to hit the brakes before you hit the GaaS.

 

[Banjo64]

As if youre neutral. You're always ragging on MS. Dont forget this beauty you did when MS laid off 10,000 people. Its not like Sony is dead broke. Where's you're tiny brown speck analogy this time?

"Microsoft is laying off 10,000 people today, including in its gaming divisions such as Xbox and Bethesda."

Lay offs suck no matter the number, but it is a lot for them. I hate when massive companies do this, it should be a last resort and should NOT happen when you can buyout companies/have a net worth that big. This includes Amazon and Apple. Either way, I hope everyone lands on their feet...

www.neogaf.com

Cry more

 

[Bumblebeetuna]

For some reason I read it as 343i and my initial reaction was:

Then I realized after reading replies that it is Bungie.

I do hope anyone laid off finds work elsewhere. But Destiny is trash and Marathon is years and years away.

 

[FullMetalx117]

It sucks for employees but I'll attempt to spin this positively - hopefully with the acquisition all employees got a nice equity payday (assuming bosses were reasonably fair). In any acquisition, especially if you don't like it, some employees may feel they are about to join a sinking ship anyways or they'd rather jump ship since post acquisition isn't actually what they signed up for. Now my understanding is that many acquisitions for them to go through, the talent pool needs to stay on for a certain amount of time for them to see their benefits. A layoff would fast track those benefits.

In my own experience in the past in the industry I work in, some people hoped for layoff after acquisition to get the super nice severance package (1-2 year salary, bonus comp coming through, ability to sell equity, etc.). They would proceed to go see the world in a year long backpacking trip (in these industries you usually have a non-compete for some time).

 

[James Sawyer Ford]

So…community managers and social media leads are being let go…..

 

[tmlDan]

Layoffs are a part of the business. No one is immune. Sucks but they are a necessary evil in order for business to remain in business. Highs and lows.

You can also blame this on Bungie, didn't they go from like 900 employees to over 1,500 when they were acquired?

 

[ReBurn]

So…community managers and social media leads are being let go…..

Must be why they're delaying Destiny 2 expansion and Marathon. Nobody left to tweet about them.

 

[Mibu no ookami]

People don't realize that delayed games means increased operating costs, which means reduced operating income, even if the revenue stays the same or even if it is higher in some cases.

I told people Sony was going to raise the price of the PS5 to shore up their operating income, but everyone thought I was crazy.

Sony recognizes that they DRASTICALLY need to increase their operating income and they can't continue to run massive high costs endeavors. It's also why they need GaaS, transmedia, and peripheral revenue that can be maintained outside of the cycle of AAA game delivery.

I wouldn't be surprised if Sony buys a large company relatively soon and the talk will be, "weren't they just laying people off" and the answer is the layoffs are in order to afford the new company's employees. You don't just buy a company and then they don't cost you anything. They have ongoing operating costs.

Destiny's last expansion was ill perceived and likely didn't perform well. As a result of that and a delay, you're going to look at a RIF for non-essential employees particularly where Sony can shift that workload outside of Bungie.

 

[SEGAvangelist]

So…community managers and social media leads are being let go…..

And more:

 

[Bkdk]

Recession and still rapidly declining economic outlook will hurt gaming extremely hard, just like how 2008 did, this one could easily be worse as stagflation has no end in sight, debt level much higher and rising global competition.

 

[ReBurn]

And more:

Probably going to use the resources of the mothership for some of those roles. PlayStation corporate likely has lawyers and recruiters and tweeters that can do some of that for them.

Perhaps most surprising but not really all that surprising is cuts to QA. It's been a QA slaughter this year. QA seems to always be the first job to get cut.

 

[MAtgS]

Why do we get these kind of threads each and every day now ? Does it come as a suprise that the economy is fucked up right now and companies need to fire staff?

It's pretty much been all Sony studios of late. They've been pumping the brakes on their GaaS plans & thus don't need anyone they hired for those games.