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Electronics giant Sony has announced plans to reduce its workforce by 900 positions, constituting 8% of PlayStation's global employees, as reported by Michael Nam for CNN.
Could the PlayStation 5 console be nearing the latter stages of its life cycle? I Photo: PlayStation Facebook
The job cuts will affect all regions under Sony Interactive Entertainment, with the closure of its in-house London studio responsible for the "Singstar" competitive singing video game.
Jim Ryan, president and CEO of Sony Interactive Entertainment, expressed gratitude for the contributions of the affected employees while acknowledging the need to adapt to the evolving industry landscape.
Ryan stated, "However, the industry has changed immensely, and we need to future-ready ourselves to set the business up for what lies ahead."
This decision comes in the wake of Sony revising its sales forecasts for the year and indications from Sony senior vice president Naomi Matsuouka that the PlayStation 5 console is nearing the latter stages of its life cycle.
The workforce reduction reflects Sony's strategic response to navigate challenges within the video game industry and position itself for future developments.
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