More layoffs, Sony cuts 900 jobs in PlayStation, London studio to close down

Sony, on February 27, 2024, announced massive job cuts globally. 900 employees, or about 8% of the global headcount, will be laid off, as per the official release.

The Tokyo-based company also confirmed closing down the London Studio, responsible for Singstar, entirely and reduction in Firesprite studio, while other studios worldwide will be affected by the job cuts.

In an email sent to the team, Jim Ryan, President & CEO of Sony Interactive Entertainment, says,

The leadership team and I made the incredibly difficult decision to restructure operations, which regrettably includes a reduction in our workforce impacting very talented individuals who have contributed to our success

It also states that affected employees will receive severance benefits, though the exact details have not emerged so far.

The announcement comes on the heels of Sony’s stocking value dropping $10 billion after it revised the PS5 sales forecast from 25 million to 21 million units.

Also, there are reports that Sony will be cancelling the development of multiple games due to the existing market dynamics.

As per available figures, 34,000 employees have been affected by layoffs in the first two months of 2024. Just last month, another gaming giant, Xbox, released 1900 employees. More layoffs are expected in the coming days as tech giants aim to optimize operations and boost revenue!