Sony to Cut 900 Jobs in PlayStation Division Amidst Industry Layoffs

Tech and Gaming Industries Continue to Face Layoffs in 2024

Preliminary data released by Japan’s health ministry on Tuesday highlighted a significant decrease in the number of babies born in 2023, marking a record low compared to previous years. The figure for newborns dropped by 5.1 percent to 758,631, continuing a downward trend that has persisted since 2022.

Accompanying the decline in birth rates is a substantial decrease in the overall population, including foreign residents, which fell by 831,872. This demographic shift is further underscored by a record number of deaths, reaching 1,590,503 in 2023. Additionally, the number of marriages has plummeted to its lowest level since World War II, dropping below 500,000 unions.

Experts attribute the rapid decline in newborns to factors such as delayed marriages and an increasing number of individuals opting to remain single. In response to these demographic challenges, Prime Minister Fumio Kishida’s administration has labeled the period leading up to 2030 as “the last chance” to reverse this concerning trend.

To address the declining birthrate, the government is gearing up to introduce related legislation during the current session of parliament. This includes a bill aimed at boosting child allowances and implementing measures to support families and encourage childbirth. These efforts reflect ongoing initiatives to tackle Japan’s demographic crisis and foster a more sustainable future for the nation.

Key Points

Sony announces plans to cut approximately 900 jobs, constituting about 8% of its global workforce.

PlayStation chief Jim Ryan emphasizes the difficult decision, affecting employees worldwide, including studio staff.

Closure of Sony’s London Studio and layoffs at Firesprite studio among the impacts on PlayStation studios.

Company cites the need for strategic changes to ensure long-term growth and sustainability.

Layoffs follow Sony’s shortfall in PS5 sales targets, contributing to a $10 billion drop in stock price.

Analysts highlight rising game development costs as a factor impacting Sony’s gaming margins.

Sony’s move adds to a series of industry layoffs, including those by Microsoft, Unity, and Discord in recent months.




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