Its a sad thing to watch though, all these peeps and jobs getting wiped out in the blink of an eye casts a long shadow over the gaming industry to me, it seems like job security is almost non-existent unless you get lucky and end up in a big/powerful studio.
I wonder if they teach about those aspects of the job in the colleges and graduate programs that focus on getting Into the industry. It would seem prudent to teach today's game-maker students on strategies of how to survive lay-offs, how to apply for jobs after such losses and how to insulate one's self against that. Or at least teach them to watch out for the riskier companies like Activision, which seems right up there in the top list of companies that hack people out instantly - like the poor folks at Bizarre.
Hopefully this trend will change over time, but the industry lost money last year overall and that doesn't spell good things for company OR employee longevity in alot of cases.
