On Tuesday, Sony Interactive Entertainment announced that it will be laying off close to 900 employees in its Playstation department. This is 8% of its total workers.
The President and CEO of the company, Jim Ryan, sent an email to employees stating that changes had to be made in order to expand and develop the company. He also said that the layoffs would affect employees in all of their regions, and their London studio will shut down completely.
On February 14, the Japanese company lessened its sales forecast for its popular PlayStation 5 console after lower demands were apparent. At that time, they had predicted that they would sell 21 million units of the Playstation 5 prior to the fiscal year coming to an end in March. This is after they previously predicted that they would sell 25 million consoles.
The company’s shares decreased significantly following the prediction.
Analysts expect that Sony will release an updated version of the PlayStation 5 some time this year.
