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Gaming industry layoffs, what's going on?

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Lately there has been a massive amount of layoffs. Just recently PlayStation let go of over 900 employees, while EA just recently fired 600+. And before that Microsoft also fired over 1900 employees. It's weird to me that so many of these major gaming companies are having so many layoffs in such little time. Do you think this is going to keep happening for the foreseeable future? What other studios or companies could be next to end up cutting more jobs? Unity laid off 1,800 people in January, Riot games are said to have laid off 500 employees, and even Twitch laid off another 500+ employees. 

Epic Games also laid off 16% of their employees back in September of last year. 

What's the lasting affect this is going to cause to the gaming industry? Are we going to end up seeing more layoffs this year? What companies do you think could end up laying off more people? Do you think a lot of those laid off will team up and form their own studios? 

About EA layoffs - https://www.msn.com/en-us/entertainment/gaming/video-game-company-ea-to-lay-off-5-of-workforce-or-about-670-employees/ar-BB1j4dyL

About PlayStation layoffs - https://www.msn.com/en-us/entertainment/gaming/playstation-will-lay-off-900-employees-including-marvels-spider-man-and-the-last-of-us-developers/ar-BB1j1NgQ

Layoffs at Epic Games - https://www.epicgames.com/site/en-US/news/layoffs-at-epic

This article discusses the variour other company layoffs including Xbox, Unity, Twitch, etc. - https://www.msn.com/en-us/lifestyle/shopping/it-s-not-just-playstation-5-other-gnarly-gaming-layoffs-in-2024-so-far/ar-BB1j3FcA

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