Why Playstation Just Laid Off 900 People

Get the 5-minute newsletter keeping 2M+ innovators in the loop: https://thehustle.co/ PlayStation is one of the latest teams to be hit by layoffs in 2024. Earlier this week, Sony announced it was laying off 8% of its global PlayStation staff, affecting around 900 people. Sony said a number of games in development have also been canceled. In a blog post by Sony, outgoing Interactive Entertainment boss Jim Ryan said, "...the industry has changed immensely, and we need to future-ready ourselves to set the business up for what lies ahead." The cuts impact a number of PlayStation studios, including Insomniac, Naughty Dog, Guerrilla, Firesprite, and, most significantly, PlayStation's London studio. Sources: https://sonyinteractive.com/en/news/blog/difficult-news-about-our-workforce/ https://www.ign.com/articles/sony-announces-significant-playstation-layoffs-affecting-900-staff-london-studio-to-close