I agree as this is the main reason why I do not work in the video game industry.
I would love to work in it like many others but seeing friends get chewed up and spat out has dissuaded me over time.
It's an apocalyptic picture that's rather at odds with the unions claim that EA is doing fantastically.
EA's sports division prints money. Valve prints money. Call of Duty prints money. Valorant/League print money. Fortnite prints money. Roblox prints money. Their products have been around for 10-20+ years and will seemingly never die.
But that's not representative of the industry as a whole, and is not representative for the average game dev. See https://www.matthewball.co/all/stateofvideogaming2025 and others.
The other bit to notice about EA in particular is that its share price has been flat for the last 7 years, they've continuously failed to figure out how to change that, which is a problem. Selling and layoffs are a lever to get out of that hole, although it remains to be seen how great of a move it turns out to be.
See also: Microsoft