Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Sony Interactive Entertainment LLC announced on Tuesday, Feb. 27, that it will be laying off eight percent of its global workforce. The video game and digital entertainment unit of Sony Corporation is set to let go of 900 employees stationed in its PlayStation unit.
SFGate reported that the head of Sony Interactive Entertainment (SIE) said the job cuts are inevitable. It was explained that the company needs changes amid the rapidly changing landscape in the gaming sector. These layoffs are also the latest in the technology and gaming industry, which continues to reduce its staff.
Other Changes to Expect at SIE
On top of the workforce reduction, Sony Interactive revealed it will also shut down its London Studio in the United Kingdom. Several ongoing projects are set to be canceled, while its innovative First Party PlayStation development studio, Firesprite Studio, with more than 200 experienced developers, will also have reductions.
These changes were personally revealed by SIE’s chief executive officer, Jim Ryan, via an email sent to the employees. He informed everyone that the company would lay off some workers from global offices, including the U.S.
The CEO did not provide details about the number of jobs to be terminated in specific office locations. Moreover, SFGate noted that as of mid-day Tuesday, Sony Interactive has not yet filed a Worker Adjustment and Retraining Notification Act (WARN) mass layoff notice with California’s labor department.
Nations Affected by the Job Cuts and Office Closure
USA Today reported that the process for layoffs is different for employees working in various regions. Sony Interactive shared that the impacted countries, including the United States, and all the workers to be terminated will receive notification on Tuesday, Feb. 27.
In the United Kingdom, SIE confirmed it will shut down PlayStation Studios’ London Studio. This office will completely cease operations. Its Firesprite PS development studio in Liverpool will have reductions, too.
Other SIE offices in the U.K. will be affected too, and lastly, in Japan, PlayStation will carry out a next career support program. The company said it would provide employees with details about this program.
“Today, I am writing with sad news,” SIE’s president and CEO, Jim Ryan, wrote in an email to the staff. “The leadership team and I made the incredibly difficult decision to restructure operations, which regrettably includes a reduction in our workforce impacting very talented individuals who have contributed to our success.”
He added, “After careful consideration and many leadership discussions over several months, it has become clear changes need to be made to continue to grow the business and develop the company.”
Photo by: Harpal Singh/Unsplash
