The New York Times took a first look at holiday sales and, while finding that it didn’t suck as bad as last year for retailers, found someone to remind us that stores aren’t the only ones deserving of concern.
A spike in gas prices followed by the deepening recession has led to all-time highs in pawn profits, the Chicago Tribune reports. Chief among the items sold? Video game consoles.
Not sure if you’ve heard, but the economy is shit and everybody’s losing their jobs. If you’re still gainfully employed, the downturn might start to hit home soon, thanks to game retailers stocking less.
Microsoft is cutting 1,400 jobs today and another 3,600 over the next 18 months in the wake of today’s news of a 11 percent drop in fiscal second-quarter net income, the company announced today.
Financial publication Forbes takes a look at some of the things people are still willing to spend money on in the face of the recession, and of course, our favourite hobby makes the cut.
According to The Wall Street Journal, Microsoft is considering “significant” layoffs across various corporate divisions. Insiders close to the company did not disclose whether Microsoft’s Xbox division will be affected.
GameDaily reports that Michael Klotz, senior account manager at the NPD Group, says the video games industry is already feeling the effects of the recession.
Despite revenue of $7.5 billion in December, Best Buy still saw a drop in video game sales.
