SONY FIRES 900 EMPLOYEES; PLAYSTATION STUDIOS ARE AFFECTED

Amidst the wave of layoffs affecting the video game industry, another company joins the list. On Tuesday (27), Sony announced a significant reduction in its workforce.

In a statement published on the company’s website, Jim Ryan, President and CEO of SIE, revealed that 900 employees are being laid off worldwide.

“These are incredibly talented people who have been part of our success, and we are very grateful for their contributions. However, the industry has changed immensely, and we need to future ready ourselves to set the business up for what lies ahead. We need to deliver on expectations from developers and gamers and continue to propel future technology in gaming, so we took a step back to ensure we are set up to continue bringing the best gaming experiences to the community”, said Jim Ryan in the message.

Reducing its workforce by 8%, the layoffs affect SIE employees in various regions, including several PlayStation studios. The biggest blow was London Studios, wich will be completely shut down.

It seems that times have been tough for Sony lately, as data from the recent fiscal report reveals that the market value of the Japanease giant has plummeted by about 10 billion dollars due to PS5 falling below expectations.

Source: Sony