What happened to PicsArt?

Picsart, a photo and video editing platform used by creators, laid off 90 employees in May — about 8% of the company's staff. The SoftBank-backed company raised a $130 million Series C in 2021, securing its unicorn status.

Which creator economy companies have laid off employees in 2022?

Layoffs continue to rattle creator economy companies. Here are 25 that have cut staff in the last year. Cameo, Jellysmack, and Substack have laid off employees in 2022. The creator economy is not immune to the recent wave of layoffs hitting the tech industry. Snap, Patreon, and Meta have laid off employees in recent months.

What companies have been hit hard by layoffs?

Since the start of the year, media, tech and video gaming industries have been hit hard by layoffs. Microsoft cut 1,900 employees across Xbox and Activision Blizzard. Amazon eliminated “several hundred” roles at Prime Video and its studio, Twitch, as well as audio platform Audible.

What will happen to gaming after a 'layoff'?

Post-layoffs, “they are still going to be spending more money and bigger budgets on a lot of their established franchises, but they are divesting out of a lot of the newer games and IPs.” More M&A is also likely on the horizon for gaming and transmedia properties, he predicts, in the wake of Microsoft’s $69 billion megadeal for Activision Blizzard.