Sony to Cut About 900 Jobs, Citing Shifting Gaming Industry

Dow Jones02-27

By Will Feuer

PlayStation maker Sony Interactive Entertainment plans to cut about 900 jobs, or 8% of staff, citing a need to adapt in the rapidly evolving videogame industry.

The layoffs will hit operations in all regions and the plans include closing PlayStation Studios' London Studio, Sony Interactive Chief Executive Jim Ryan said in a note to staff.

"The industry has changed immensely, and we need to future ready ourselves to set the business up for what lies ahead," Sony Interactive Chief Executive Jim Ryan said in a statement. "We need to deliver on expectations from developers and gamers and continue to propel future technology in gaming."

Sony and its rival makers of gaming consoles are navigating the emergence of the still-nascent cloud-based gaming industry. Sony is also grappling with Microsoft's acquisition of Activision Blizzard.

Microsoft said last month that it is laying off about 8% of its own videogaming staff, cuts that largely reflect redundancies from its Activision Blizzard takeover. Roughly 1,900 employees would be affected, Microsoft Gaming CEO Phil Spencer said at the time.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

February 27, 2024 08:42 ET (13:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Roughly 1,900 employees would be affected, Microsoft Gaming CEO Phil Spencer said at the time. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Will Feuer at Will.Feuer@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2024 08:42 ET (13:42 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sony to Cut About 900 Jobs, Citing Shifting Gaming Industry</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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