Is PlayStation in Trouble? Sony Announces Major Layoffs
Sony Interactive Entertainment (SIE), the division responsible for the PlayStation brand, announced a significant restructuring on February 27, 2024, resulting in the reduction of approximately 900 jobs globally. This represents roughly 8% of the division’s workforce.
The company cited the need to adapt to evolving trends in the global video game industry as the primary reason for the decision. In a blog post, SIE CEO Jim Ryan stated, “The industry has changed immensely, and we need to future-ready ourselves to set the business up for what lies ahead.
In Short
- Sony to cut 8% of its global workforce in the PlayStation division.
- The London Studio of PlayStation will be completely shut down.
- The layoffs come after Sony slashed the annual sales expectation for its PlayStation 5 console.
Sony fires around 8 per cent Playstation Employees impacting 900 jobs
In a move that has sent shockwaves through the video game industry, Sony announced on February 27, 2024, a significant restructuring of its PlayStation division. The company plans to lay off approximately 900 employees and close its London Studio. This decision comes amidst a challenging economic climate and a slowdown in the post-pandemic gaming market.