Sony Announces Layoffs: 900 Workers Cut from PlayStation Division, 8% of Global Workforce Affected

Sony Interactive Entertainment revealed on Tuesday its decision to lay off approximately 900 employees within its PlayStation division, constituting 8% of its global workforce. This move marks the latest in a series of headcount reductions seen across the technology sector. Jim Ryan, President and CEO of the PlayStation unit, conveyed the decision to employees via […] The post Sony Announces Layoffs: 900 Workers Cut from PlayStation Division, 8% of Global Workforce Affected appeared first on The Real Preneur.

Mar 4, 2024 - 12:56
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Sony Announces Layoffs: 900 Workers Cut from PlayStation Division, 8% of Global Workforce Affected

Sony Interactive Entertainment revealed on Tuesday its decision to lay off approximately 900 employees within its PlayStation division, constituting 8% of its global workforce. This move marks the latest in a series of headcount reductions seen across the technology sector.

Jim Ryan, President and CEO of the PlayStation unit, conveyed the decision to employees via email, emphasizing the necessity for organizational changes to sustain business growth and development. The layoffs will impact staff members across all regions, with the complete closure of PlayStation’s London studio and several other studios facing closures or reductions.

This announcement follows Sony’s downward revision of sales projections for its flagship PlayStation 5 console on February 14, citing decreased demand. Previously forecasting sales of 25 million units for the fiscal year ending in March, the company now anticipates selling 21 million units. The revision led to a notable decline in Sony’s stock value.

Industry analysts had speculated that Sony might introduce a refreshed version of the PlayStation 5 this year to stimulate consumer interest in the console amidst competitive pressures.

The post Sony Announces Layoffs: 900 Workers Cut from PlayStation Division, 8% of Global Workforce Affected appeared first on The Real Preneur.

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