By: Economic & Finance Report
Sony’s PlayStation let go over 900 employees because of the aftereffects from the pandemic. The media industry is recuperating, readjusting and reformatting to new tools and technology, such as AI (artificial intelligence). Many jobs are no more needed in the post covid-pandemic era.
PlayStation’s layoffs will affect approx. 8% of its division. Sony recently slashed the revenue from its PlayStation 5 console release, and the dynamics is being felt at the media conglomerate. Sony’s IE (Interactive Ent) chief Jim Ryan indicated that for sustainable growth at the company, job layoffs needed to be instituted, along with reduction of jobs at the company, to keep the media giant afloat.
Some of Sony’s PlayStation studios will be impacted by the cuts, and people working in the America’s and Asia will be directly impacted by the severances. -SB
Image Credit: CNBC
Sony lays off 900 workers from PlayStation division amid video game slump (nypost.com)
Recent Corporate Layoffs To Begin 2024. Bad Start???? – ECONOMIC AND FINANCE REPORT