There were two initial reactions to the news that Nintendo plans to cut staff in the Seattle area.
One is concern. The company moved to Redmond from New York in the 1980s and is one of the firms people point to as an example of Seattle's role in global business. If they're ready to leave, it must have to do with taxes, regulations, quality of workforce, congestion, etc. After all, when Boeing moved its headquarters it said it was for operational reasons but then, when asked about the business climate, a top executive said "I think we suck".
The other is a guilty sense of relief. The prospect of one fewer employer could mean lower housing prices and fewer cars on the road. The fact even supporters of economic growth can appreciate the idea of a slowdown probably means the area has done a poor job of accommodating what we have.