Sony to lay off 900 at PlayStation as tough times for the video games industry persist

Sony has announced plans to cut 900 jobs, which amounts to 8% of the global workforce for its PlayStation division. Layoffs will affect all regions of Sony Interactive Entertainment, and the company’s in-house London studio, responsible for the game ‘Singstar,’ will be closing down. This move comes after Sony slashed its sales forecasts and acknowledged that the PlayStation 5 is approaching the end of its life cycle. The company’s CEO, Jim Ryan, expressed gratitude for the contributions of the affected employees but emphasized the need to adapt to the changing industry. Sony Group stock fell slightly in response to the news.