Sony Cuts 8% of PlayStation Workforce Amid Industry Downturn

Key Details:
📍 Sony to lay off 900 employees, or 8% of PlayStation's global workforce.
📍 Cuts to affect major studios: Insomniac, Naughty Dog, and Guerrilla.
📍 Move follows a plunge in Sony shares due to reduced PlayStation 5 projections.
📍 Over 6,000 video-game industry workers laid off this year due to economic challenges.

👉 Context/Background:
The layoffs come as the latest in a series of workforce reductions across the tech industry, driven by a post-pandemic spending slowdown and rising operational costs.

👉 Why This Matters:
This significant reduction in Sony's gaming division highlights the broader challenges facing the video game industry, including budget inflations and changing consumer spending habits.