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How? All these laid off devs will get new jobs make new studios make new games then m$ will just buy the ip and fire them again. The ip gets farmed for free to m$. They just come by later to harvest the best of the crop.
The skills required for a lot of game dev work are transferable to other industries (and paid better in other industries) with so many game layoffs/firings at once, they aren’t all going to try and stay in the industry, and in some cases a lot of institutional knowledge can be lost.