Latest news with #DaysGone
Business Insider
5 days ago
- Business
- Business Insider
Video Game Layoffs Continue with Cuts at MindsEye and Splitgate 2 Studios
The video game landscape is changing, and it's not good for developers. Several layoffs have been announced throughout the year, and it continued on Monday with cuts at two studios. Confident Investing Starts Here: The first round of layoffs comes from MindsEye developer Build A Rocket Boy. The UK-based game developer has begun the 45-day consultation process required when layoffs total more than 100 workers. It's unclear how many will be included in these layoffs, but the studio employs roughly 300 people in the UK and 200 more abroad. These layoffs follow the disastrous launch of MindsEye, which has a Metacritic score of 38 out of 100 and a user score of 2.6 out of 10. Next are cuts from Splitgate 2 developer 1047 Games. A LinkedIn post notes these only include a small number of employees. Additionally, company co-founders Ian Proulx and Nicholas Bagamian have agreed to take no salaries as they 'lock in to deliver the next phase of the project.' Video Game Layoffs Have Become An Industry Trend While Build A Rocket Boy and 1047 Games aren't large developers, they add to a growing trend of layoffs. That includes those that have taken place at major studios, such as Sony's (SONY) Days Gone developer Bend Studios. Warner Bros (WBD) has also cut its game development staff and recently reorganized its studios to focus on core intellectual properties. Some of these layoffs are likely related to overhiring during the COVID-19 pandemic. With people trapped at home during lockdowns, the video game hobby surged. That resulted in increased hiring to meet demand, but those lockdowns ended years ago and it only makes sense that some jobs would be cut. Other issues facing the game industry are large costs and long periods of development. The money that goes toward the development of AAA games has ballooned greatly over the last several years as developers seek to create larger worlds with more detailed graphics. This even saw Ubisoft (UBSFY) start referring to some of its games, such as Skull & Bones as AAAA titles. The higher development costs necessitate the need for hits, as blunders can lead to financial struggles and job cuts. Which Video Game Stocks are Worth Investing In? Using TipRanks' comparison tool, traders can see which video game stocks are worth investing in. That includes major players, such as Nintendo (NTDOF), Microsoft (MSFT), and Sony. Of the big three, NTDOF has a consensus Moderate Buy rating, while MSFT and SONY have Strong Buy ratings. Sony offers the highest upside potential at 20.08%, with Nintendo and Microsoft both offering upside potentials of roughly 7%.
Business Insider
12-06-2025
- Business
- Business Insider
Sony Stock Dips as Bend Studio Lays Off Game Developers
Sony (SONY) stock slipped on Wednesday after the video game developer confirmed layoffs at Days Gone developer Bend Studio. The entertainment company didn't say how many employees were affected, but reports claim roughly a third of the studio's approximately 150 members were laid off. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The Sony layoffs came after the company canceled a Bend Studio live-service game that was in development. The concept for the game was finished, but Sony pulled the plug on it earlier this year. That came around the same time a game being developed by Sony studio Blue Point was also canceled. Days Gone fans worried about the fate of Bend Studio have nothing to fear. Sony said these layoffs 'better position the studio for long-term success' and that it remains 'confident in its future and creative direction.' SONY Stock Movement Today SONY stock slipped 0.52% as of Wednesday afternoon, but remains up 23.18% year-to-date. Bend Studio is only one of several game developers under the PlayStation brand. That, combined with the limited nature of the layoffs, explains why SONY stock didn't experience a more significant impact from today's job cut news. Bend Studio also lacks the big-name successes of other PlayStation studios, such as Naughty Dog or Insomniac. Is Sony Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Sony is Strong Buy, based on three Buy and one Hold rating over the past three months. With that comes an average SONY stock price target of $29, representing a potential 11.26% upside for the shares. Spark, TipRanks' AI analyst, rates Sony an Outperform (79) with no price target. The AI analyst points to a 'strong financial performance with robust growth and efficient operations' as a reason for the bullish stance.
Time of India
11-06-2025
- Entertainment
- Time of India
Sony's Bend Studio announces layoffs: Read what the company said
Sony's Bend Studio, the acclaimed developer behind popular titles like Days Gone and the Syphon Filter series, has announced fresh round of layoffs. The company is reportedly undergone substantial layoffs, with approximately 30% of its staff impacted. This move comes after the cancellation of an unannounced live-service game that the studio had been developing. Bend Studio had been working on an unannounced live-service game, which was scrapped earlier this year. The studio is now focusing on a new, unnamed project, though details remain scarce. Bend Studio layoffs: Here's what the company said Bend Studio confirmed the layoffs in a statement, acknowledging that Bend Studio had been working on a live-service concept earlier this year but decided "not to move forward with it" after careful consideration. The company stated that these "strategic changes" are being made to "better position the studio for long-term success" as the team shifts focus to its next project. 'Today, we said goodbye to some incredibly talented teammates as we transition to our next project. We're deeply thankful for their contributions as they've shaped who we are, and their impact will always be part of our story. 121772998 Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mai puține griji la pensionare Pensia Facultativă NN Vezi oferta Undo This a difficult moment for our team, but we hold immense respect for everyone who got us here. As we move forward, we remain committed to building the future of bend Studio with creativity, passion, and innovation in the titles we craft,' reads the statement posted by the company on X. This round of layoffs at Bend Studio is the latest in a series of workforce reductions across PlayStation's first-party developers. Sony has been making significant strategic adjustments to its live-service game ambitions, which initially aimed for a large number of releases by 2025. Several live-service projects, including a God of War multiplayer title at Bluepoint Games and The Last of Us Online from Naughty Dog, have reportedly been canceled or shelved. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
10-06-2025
- Entertainment
- Yahoo
Days Gone Developer Hit with Layoffs After Cancelling Live Service Game
According to a new report, , the PlayStation developer most known for its games Days Gone and Syphon Filter, has been hit by layoffs. This comes just a few months after cancelling a live-service game. This news comes from Bloomberg's Jason Schreier. In a post on BlueSky, Schreier reports that the studio is laying off 30% of its staff today. This adds up to around 40 employees at Bend Studio. He also confirms that the studio has started a new project following the recently canceled live-service project. 'Sony's Bend studio, which canceled a live-service game earlier this year, is laying off 30% of staff today (around 40 people), Bloomberg News has learned,' says Schreier in his post. 'The studio has been spinning up a new project following the cancelation.' Another BlueSky user named solidjaum replied to Schreier's post, asking if Bluepoint Games, another studio that recently canceled a live-service project, was impacted by layoffs. Schreier confirms it is not. Back in January, it was reported that both Bend Studio and Bluepoint Games had canceled live-service projects. This was due to the troubled launch of Concord, which was live for just two weeks before being shut down. Bluepoint Games was working on a God of War multiplayer game. Details about Bend Studio's project are not known. This is just one of many rounds of layoffs happening throughout the games industry. Back in February, PlayStation was reportedly hit with layoffs. More recently, EA saw mass layoffs in April, which reportedly saw 300 to 400 employees impacted. The last project Bend Studio released was Days Gone Remastered, a visually improved version made to take advantage of the technology of the PS5 and PS5 Pro. It is available now on the PS Store for $49.99. The post Days Gone Developer Hit with Layoffs After Cancelling Live Service Game – Report appeared first on PlayStation LifeStyle.
Yahoo
10-06-2025
- Entertainment
- Yahoo
Days Gone Studio Hit With Mass Layoff After Live Service PlayStation Game Canceled
Days Gone maker Bend Studio has been hit by layoffs. Roughly a third of the first-party PlayStation team was cut following the recent cancelation of an unannounced live service project, but Sony confirmed the studio is working on a new project now and it remains 'confident in its future and creative direction.' 'Earlier this year, Bend Studio wrapped development on a live service concept. After careful consideration, we chose not to move forward with it,' a spokesperson for Sony confirmed to Kotaku in an email. 'As the team shifts focus to its next project, we've made strategic changes to better position the studio for long-term success. As part of this transition, a workforce reduction has taken place at the studio. This decision was not made lightly, and we are extremely grateful for the meaningful contributions of all those impacted. Bend Studio has been a valued part of PlayStation Studios for decades, and we remain confident in its future and creative direction.' About 40 developers at the Oregon-based studio were laid today, as first reported by Bloomberg. The project they were previously working on was canceled earlier this year amid a purge of some internal live service projects, including an online God of War spin-off at Bluepoint Games. 'Bend Studio laid off a bunch of people today,' senior animator Robert Morrison posted on X. 'I was a part of the layoffs. I did my best. Hopefully I can find a new team to join.' Best known for the Syphon Filter espionage games in the PS1 and PS2 eras, Bend Studio later moved on to developing handheld ports of first-party franchises like Resistance and Uncharted before eventually making 2019's open world zombie blockbuster Days Gone. The game didn't review as highly as some PlayStation exclusives but still sold well. While fans pined for a sequel, the studio hasn't released a game since. Days Gone received a PS5 version earlier this year but has otherwise laid dormant as Bend Studio reportedly worked on a new live service IP. Leaked images made it appear like the now canceled game was an online multiplayer loot shooter of sorts, though no official details about the project were ever shared publicly. The Bend Studio cuts are the latest self-inflicted wound of a PS5 generation live service pivot that's left Sony conspicuously short on big first-party blockbusters. Live service spin-offs of Twisted Metal and The Last of Us were also canceled, while Concord's launch went so poorly the company refunded the game and shutdown the studio behind it which had acquired just a couple years prior. Another upcoming online shooter, Fairgame$, was recently delayed according to Bloomberg after it received negative feedback from external testing. That studio's head, Jade Raymond, departed around the same time. Update 6/10/2025 5:06 p.m. ET: Added statement from Sony. . For the latest news, Facebook, Twitter and Instagram.
