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there are also always new jobs but nobody is talking about them because only bad news is interesting news. microsoft is hiring all the time. as example when disney said they close lucasarts, microsoft send recruiters there to get them. wasn't really in the news and they alone got maybe a lot of the staff. i think ubisoft could probably also expand, kojima said that they expand and crytek and cd projekt got a lot of new employees and so on...

sure right now there are also a lot of lay-offs, some concepts didn't work (especially in the social game segment some failed hard becaused they thought it will be super easy to make money), indie developers are everywhere and "steal" maybe some sales of the bigger ones (i buy less retail games since i buy so many indie games) and some other factors as well but i think it's not as bad as it seems if we only talk about the amount of people working in the branch right now.