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I've noticed this a lot lately. And this is certainly a bad thing for those being fired.

I think maybe some of the Western publishers are struggling, in the face of massive revenues, as you say, because these revenues are below expectations. Consider the case of wallstreet: if a company profiting or losing and announcing that is almost irrelevant to their stock price. What is mostly relevant is how they do relative to expectations.

Also consider that big games are doing well but the smaller games may very well be doing much worse than in a better economy.