Not a good sign for one of the most recognizable brands in the world: Sony Interactive Entertainment on Tuesday said the company will cut about 900 jobs at its PlayStation unit and shut a studio in London as the videogame industry struggles to recover from a post-pandemic slump.
The layoffs will affect about 8% of the division’s staff in regions from the Americas to Asia and come days after Sony slashed the annual sales expectation for its PlayStation 5 console. Sony isn’t the only video game concern that has laid off employees in recent months:
Even Microsoft, a reliable industry juggernaut, is firing a ton of people in its gaming division:
The worldwide video game market, according to the Post, “grew just 0.6% last year to $184 billion,” after a decline of about 5% in 2022.Sony President and CEO Jim Ryan said the Playstation layoffs come amid an “evolving economic landscape” and […]
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