Sony's PlayStation division lays off 900 employees and closes London studio due to post-pandemic gaming industry struggles.
Sony's PlayStation division is laying off 900 employees and shutting down its London studio due to the struggling recovery of the gaming industry post-pandemic. The global videogame market experienced a 0.6% growth last year to $184 billion, despite a 5% decline in 2022. Sony's other studios, such as Insomniac Games and Naughty Dog, will also be affected by the layoffs. Sony plans a gradual decline in unit sales of the PlayStation 5 from the next financial year and does not plan to release major franchise titles in the coming fiscal year.
February 27, 2024
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