Home » Business News • US business news • World Business & Employment News » Sony axes 900 jobs from its PlayStation unit
Sony axes 900 jobs from its PlayStation unit
https://www.whatjobs.com/news/business-news/sony-axes-900-jobs-from-its-playstation-unit
By Nithya Bose in Business News, posted February 28, 2024
Sony Interactive Entertainment has announced plans to slash around 900 jobs, or eight percent of employees, from its PlayStation division.
This move places Sony among the ranks of tech companies scaling back their employee numbers.
The unit’s President and CEO, Jim Ryan, wrote to staff: “After careful consideration and many leadership discussions over several months, it has become clear changes need to be made to continue to grow the business and develop the company.”
The layoffs will impact Sony's operations worldwide, including the complete shutdown of its London studio, alongside affecting other locations.
This announcement follows Sony's adjustment to its PlayStation 5 sales projections on February 14, citing decreased demand.
The company revised its sales expectations to 21 million units for the fiscal year ending in March from an initial forecast of nearly 25 million consoles.
This revision led to a significant drop in Sony's share price.
Looking to boost your online brand? Create your FREE business profile at WhatBiz? Here
Industry observers had speculated that Sony might introduce an updated PlayStation 5 model to reinvigorate consumer interest.
The layoffs at Sony are part of a broader trend of job reductions across the technology sector.
Microsoft reported a nine percent cut in its gaming division in January following its purchase of Activision Blizzard.
Similarly, Cisco and DocuSign have recently announced workforce reductions as part of their organizational restructuring efforts.
Tech Cuts in January 2024
- Xerox To Cut Workforce By 15 Percent
- Alibaba Subsidiary Lazada Lays Off Employees In Southeast Asia
- Unity Software Cuts 1,600 Jobs In Latest Tech Layoffs
- Barclays Confirms 5,000 Global Job Cuts
- Cybersecurity Giant Trend Micro Cuts 150 Staff
- Google Announces Hundreds Of Layoffs As It Focuses On AI
- Duolingo Lays Off Workers As It Relies On AI For Lesson Creation
- Discord Axes 170 Jobs After Massive Hiring Spree
- Citigroup To Cut 20,000 Jobs
- Amazon Slashes Five Percent Of Jobs In Audible Division
- YouTube Announces 100 Layoffs
- Macy’s To Slash Over 2,300 Corporate And Store Roles
- Wayfair Cuts 1,650 Global Staff In Restructuring
- Tencent’s Riot Games Lays Off 530 Employees
- EBay To Cut 1,000 Full-Time Employees
- SAP To Offer Buyouts And Job Changes For 8,000 Employees
- Los Angeles Times To Lay Off Roughly 115 Newsroom Staff
- TikTok Cuts 60 Jobs In Sales And Advertising
- Flexport To Cut 500 Jobs As Shipping Demand Slows
- Microsoft To Cut 1,900 Jobs In Gaming Division
- Levi Strauss To Cut Corporate Workforce By 15 Percent
- John Lewis To Cut Up To 11,000 Jobs Over Five Years
- Lloyds To Cut Another 1,600 Jobs
- Channel 4 Plans To Cut 250 Jobs
- Paramount Chief Announces Layoffs Amid Cost-Cutting Measures
- Business Insider Axes 8 Percent Of Staff
- IRobot Cuts 31 Percent Staff After Amazon Merger Collapses
- UPS Announces 12,000 Job Cuts In A Drive For Profitability
- PayPal To Cut 2,500 More Jobs In Latest Tech Layoffs
- Sky Confirms 1,000 Job Losses As Customer Preferences Shift
Follow us on X, LinkedIn, and Facebook
