👾 Game on!

The gaming industry resets after hiring spree.

👋 Welcome back, TAs! Looks like PwC UK is getting pretty serious about in-office work. This week, the Big Four firm announced it will start tracking employee locations to enforce a new policy requiring staff to be in the office or with clients at least 3 days a week starting in January.

PwC says face time is crucial for client service, coaching, and development. But the move raises questions about trust and privacy, with employees saying the tracking "feels very big-brother.” Trust falls, out. FindMyDirectReport, in?

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Today’s edition is a 3-minute read. Here’s what to expect👇

🗞️ Layoffs hit gaming industry hard
🌎️ AI jobs concentrated in coastal cities
💰️ Bullhorn makes another acquisition
💻 TA roles at Amazon, Netflix
💼 Layoffs hit PwC, Goop
📆 Can’t miss upcoming industry events

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NEWS
One Thing You Should Know This Week
WSJ: Game Industry Layoffs Leave Recruiters Scrambling

The game industry is facing a harsh reality check. After years of steady growth, mass layoffs have hit companies big and small, leaving thousands out of work — including many recruiters.

🖼️ The big picture.
A new report from the Wall Street Journal this week shows how the video game industry – once a beacon of job security and growth – is undergoing a shift. Companies that were hiring aggressively just a year ago are now shedding staff. This downturn isn't isolated to small studios or struggling firms – even industry giants like Take-Two, Electronic Arts, and Ubisoft have announced significant job cuts over the past several months, including today’s news that Microsoft-owned Xbox will cut a further 650 people from its gaming division.

❗Why this matters.
Well, we know the gaming industry has long been a driver of technological innovation and a significant employer in the tech sector, making its current struggles indicative of broader challenges facing the tech industry as a whole. Some of these challenges include the tendency for players sticking with fewer games for longer periods, the rising costs for development and marketing, and the increasingly intense competition for audience attention. For many, working in games was a dream job that combined passion with profession. The WSJ spoke to former employees who say the current wave of layoffs is not just disrupting careers — but sadly shattering long-held aspirations.

🧮 By the numbers:

  • Over 11,500 game industry jobs cut in 2024 so far

  • Up from 10,500 in all of 2023

  • Tech layoffs overall have topped 132,000 in 2024

  • The IT unemployment rate hit 6% in August, up from 5.6% in July

💼 What this means for TAs.
Recruiters in the gaming sector are facing a double-edged sword. On one hand, there's a surplus of available talent with specialized skills. On the other, there are fewer open positions to fill. This shift requires a strategic pivot in approach:

  • Expanding networks beyond gaming to help candidates with job placement

  • Highlighting transferable skills when presenting candidates for different roles

  • Advising clients on how to keep their best employees during tough times

  • Encouraging people to learn new skills to stay competitive

👊 The silver lining.
There’s always opportunity amid the turmoil. Smaller studios may be able to attract top talent let go from larger companies. And the industry's long-term outlook remains positive as gaming continues to grow globally. But as of now, game industry workers face an uncertain job market. Recruiters will need to get creative to help clients and candidates navigate these choppy waters.

🔈️From the experts.
“At Onward Play, we've seen firsthand how the recent wave of layoffs has reshaped the landscape for both studios and game talent," Kimberly Shatzer, Founder of Onward Play, a nationwide specialized staffing firm for the gaming, AI, esports, and VR industry, said in an interview with RecruitmentMarketing.com. "While it’s been a tough time in gaming the past year, the demand for senior-level specialized roles is still strong, especially in areas like AI, technical art, and gameplay engineers. With inflation, game studios and publishers have leaned out their teams, new IP development has slowed, but the most valuable players we continue to place today are highly skilled game makers that can wear multiple hats.”

🎮 Game (not) over.
Despite the current downturn, the long-term outlook for the gaming industry remains positive. Global gaming revenue is projected to reach $321 billion by 2026, according to PwC. This suggests that while the industry is going through a painful adjustment, it's not quite game over.

📥️ Read more in The Wall Street Journal.

NUMBERS

Numbers That’ll Make You Think

  • 142,000 — Jobs added in August, below expectations but still showing growth, with the unemployment rate ticking down to 4.2%. (HR Brew)

  • 80% — Of AI-recommended candidates are deemed suitable by employers, according to a new report by Avature. The other 20% were probably … cats walking across keyboards? (HR Tech Feed)

  • 8 million — People who now work multiple jobs, as a growing number of Americans struggle with rising costs, a new report shows (WSJ)

  • 6% — IT unemployment rate in August, up from 5.6% in July. Have we tried turning it off and on again? (WSJ)

  • 44% — Of AI jobs are concentrated in San Francisco, Seattle and NYC, according to a new report. The robots are coastal elites, apparently. (Staffing Industry)

  • $200 — Cost to hire a "quitting agency" in Japan to help you resign from your job. For when ghosting your boss isn't quite professional enough. (WSJ)

A MESSAGE FROM RECRUITMENTMARKETING.COM

INDUSTRY INTEL

M&A Deals, Industry Moves, & Other Things To Know

  • Career resource group The Muse (learn more) launched a dedicated content creation studio for employer branding. From articles to videos, they're helping companies attract and retain talent. (HR Tech Feed)

  • Staffing giant ManpowerGroup (learn more) announced it is opening branches inside Walmart stores, aiming to reach more job seekers where they shop. (Staffing Industry)

  • Cloud company Bullhorn (learn more) acquired KonaSearch, an advanced search platform, to boost sourcing capabilities for executive search firms using Bullhorn for Salesforce. (HR Tech Feed)

  • Talent assessment provider Assessio acquired Wisnio, adding AI capabilities and targeting private equity and executive search markets. (PR Web)

  • Online job marketplace ZipRecruiter (learn more) launched video interviewing functionality, allowing faster face-to-face connections between employers and candidates. (HR Tech Feed)

  • "Agentic AI" is the latest buzzword in tech, describing AI that can act on its own to complete complex tasks. The hype is high, but real-world applications are still developing. (NY Times)

  • Some top colleges are seeing drops in Black student enrollment after The Supreme Court ruling on affirmative action, requiring schools to maintain diversity through other means, according to a new report. (WSJ)

OPEN ROLES

Jobs You Might Want (For Yourself!)


For more of these roles delivered to your inbox every Monday, subscribe to the RecruitmentMarketing.com Jobs Weekly newsletter by clicking here. For a full list of open roles, head over to our job board by clicking here.

LAYOFFS

Places For You To Source Fresh Talent

  • Accounting firm PwC is laying off 1,800 employees in its first formal round of cuts since 2009, amounting to 2.9% of its headcount. (WSJ)

  • Gaming service Xbox, owned by Microsoft Gaming, said today it will cut 650 employees. (Polygon)

  • Rideshare app Lyft is discontinuing its dockless bike and scooter operations, cutting about 1% of its workforce. (CNBC)

  • EV charging network operator ChargePoint is cutting 15% of its workforce after missing revenue forecasts. (Yahoo Finance)

  • Gwyneth Paltrow's lifestyle brand Goop is laying off 18% of staff as it refocuses on beauty, fashion, and food. (Business Insider)

  • Italian app company Bending Spoons plans to lay off 75% of WeTransfer's staff following its acquisition of the file-sharing service. (TechCrunch)

  • Game studio Lost Boys Interactive confirmed another round of layoffs affecting employees across several states. (Game Developer)

EVENTS

Join Us For These Upcoming TA Events

  • Thrive Together: A Virtual Wellness Experience

    📆 October 10, 2024 from 4:00-7:00 PM ET
    ⚡️ Join RecruitmentMarketing.com, The Talent Collective, and TechTrust on World Mental Health Day for an exclusive wellness event for female founders and executives.
    👉️ Register here. 

  • Employer Brand Authenticity in an Election Year: Navigating the Political Landscape and Attracting the Next Generation of Workers

    📆 October 15, 2024 at 1:00 - 2:00 PM ET

    ⚡️ Master the art of employer branding amid election year challenges and attract the next generation of top talent.
    👉️ Register here.

  • Hire Innovations: Fall 2024
    📆 November 19-21, 2024 | 1:00 PM ET Daily

    ⚡️ Hire Innovations Fall 2024 is a dynamic 3-day virtual event designed to inspire and introduce you to cutting-edge technologies revolutionizing the hiring process.
    👉️ Register here.

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