Didn’t they cancel a game that’s been in development for over 5 years and lay off the whole team? That’s not exactly redundant positions.
From what I know of recent video game company layoffs, it’s mostly been the cancellation of an in-development game in order to get rid of all the employees working on it.
I think you’re right about H&M, though I know a lot of fans did a rewatch after the passing of Matthew Perry, so could be a lot of that too.