That was the exact quote in the entire games industry last year. [1][2] The tail end of the 2023 layoffs really hit the industry hard and then it never really recovered afterward. [3]
[1] https://www.ign.com/articles/survive-til-25-how-game-studios...
[2] https://www.gamesindustry.biz/how-to-survive-until-2025-in-t...
[3] https://www.ign.com/articles/game-developers-mass-layoffs-hu...