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Why do games media layoffs keep happening?

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If you have been following the headlines, you may conclude that no one is reading very much these days.

After all, layoffs in games media have been taking place with alarming frequency, with businesses often citing "structure change", "supply-chain issues" and "very tough market environment". Yet amidst conversations around these layoffs, there's one game that keeps cropping up: Elden Ring. Or, to be specific, its pivotal role in introducing much-needed traffic to a website.

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source https://www.gamesindustry.biz/why-do-games-media-layoffs-keep-happening