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News on Medial
Sony is laying off 900 PlayStation employees
The Verge
·
1y ago
Medial
In a recent announcement, Sony Interactive Entertainment (SIE) revealed plans for a major restructuring and downsizing of its operations. The decision, driven by changes in the economic landscape and the need to adapt to a rapidly evolving industry, will result in a reduction of approximately 8% of the current workforce, impacting around 900 employees across all SIE regions. The restructuring will include the closure of PlayStation Studios' London Studio, reductions in Firesprite studio, and various functions across SIE in the UK. Impacted employees will receive support, including severance benefits. SIE aims to navigate these changes to ensure the long-term sustainability of the company and continue delivering exceptional gaming experiences.
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Related News
Sony is laying off 900 employees from its PlayStation unit
TechCrunch
·
1y ago
Medial
Sony is cutting around 900 jobs in its PlayStation division, representing 8% of its global workforce. The layoffs will affect employees in the Americas, Japan, EMEA, and APAC regions. The decision to restructure comes as Sony aims to focus on long-term sustainability and delivering the best experiences for its community. The job cuts follow a recent decrease in demand for the PlayStation 5, leading to a revised sales forecast. Other gaming companies, including Microsoft, Activision Blizzard, and Unity, have also announced layoffs in recent weeks.
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Sony cuts 900 jobs in PlayStation units, shuts London Studio amid challenges
Livemint
·
1y ago
Medial
Sony is planning to cut around 900 jobs in its PlayStation unit and close a London-based studio as a response to the challenges faced by the videogame industry after the pandemic slump. This move follows a recent reduction in sales expectations for the PlayStation 5 console. The job cuts will affect about 8% of the division's workforce across different regions. Sony's decision aligns with industry trends, as other companies, like Microsoft and Riot Games, have also undertaken layoffs due to a sluggish gaming market recovery. Despite challenges, the PlayStation 5 has sold over 50 million units since its launch in 2020.
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Epic Games is laying off roughly 900 employees
Economic Times
·
1y ago
Medial
According to Bloomberg News, "Fortnite" creator Epic Games is laying off approximately 900 employees, which accounts for around 16% of its workforce. This comes as Epic Games continues its legal battle against Apple, accusing the tech giant of violating U.S. antitrust rules with its in-app payment commission charges. In response, Apple has requested the U.S. Supreme Court to overturn an order requiring changes to its App Store rules related to the antitrust case brought by Epic Games.
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Sony gaming chief Jim Ryan to retire, group president to be interim head
Economic Times
·
1y ago
Medial
Sony gaming chief Jim Ryan is set to retire, with Sony Group President Yoshida Kenichiro taking over as interim head, according to sources. Ryan served as the CEO of Sony Interactive Entertainment, overseeing the launch of the PlayStation 5. Sony is expected to make an official announcement soon.
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PlayStation Down: Major outage hits PlayStation network, Sony responds
Livemint
·
10m ago
Medial
- PlayStation Network is experiencing a major outage affecting multiple console models like PS4, PS5, PS Vita, and PS3. - Sony officially acknowledged the outage and is actively working on resolving the issue. - Users are reporting error code WS-116522-7 when trying to launch games and difficulty logging into single and multiplayer games. - Users on social media express frustration and humorous reactions to the PlayStation Network outage. - Sony has not disclosed the cause or the estimated time for full restoration of the PlayStation networks.
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ReshaMandi's uncertain future after $40 million loss
Inshorts
·
1y ago
Medial
Hit by a cash crunch and revenue challenges, ReshaMandi started laying off employees in June 2023. It offered employees a ‘chance’ to work without salaries for three months. The employees who did so found out that there was no cash for any of the pending salary payments. These employees are still awaiting their dues.
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PlayStation permanently suspends online accounts for no clear reason
Gizmodo
·
1y ago
Medial
Sony has suspended a number of PlayStation accounts, allegedly for violating its terms of service, leaving users confused and without recourse. Players claim they have not engaged in any violation-worthy behavior, and Sony has not provided any official response or option for appeal. Users have taken to social media platforms like Twitter and forums to express their suspensions, with many reporting a lack of response from Sony's customer service. The recent suspensions come on the heels of Sony removing over 1,300 seasons of Discovery TV content from the PlayStation Store without refunding users.
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Raksha Bandhan 2024 gift ideas: Wearables, cameras, gaming consoles and more
Livemint
·
1y ago
Medial
The Sony ZV-E1 camera is perfect for content creators with its 4K video quality and advanced autofocus system. The Sony Field 1 speaker is a portable, waterproof, and dustproof option for music lovers. The Sony ULT Wear headphones combine technology and style with health tracking features and customizable watch faces. The Sony PS5 Slim Edition is a dream console for gamers with its powerful performance and stunning graphics. The PlayStation Portal remote player allows gamers to stream PS5 games on a handheld device with advanced features.
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'Why is this quiet news?' asks Anupam Mittal on Reliance laying off 42,000 employees
Twitter
·
12m ago
Medial
Anupam Mittal asked why Reliance Industries laying off over 42,000 employees is a "quiet news". He wrote on X, "[This] should be raising serious alarm bells across the economic & political circles." Reliance revealed that it reduced its workforce by 11% in financial year 2023-24 in its latest annual report. Reliance Retail alone accounted for 38,029 of 42,052 fewer employees.
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CARS24 to Slash 120 More Jobs Amid Major Restructuring Drive
StartupTalky
·
2m ago
Medial
CARS24 is undergoing a major restructuring, laying off an additional 120 employees from its non-core verticals after let going of 200 last month. The company is closing or scaling down these sectors, including its business-to-business automotive parts platform, Inspare, affecting 80 jobs. Affected employees are receiving severance packages and being encouraged to seek other roles. The startup, valued at $3.2 billion, is focusing on strengthening its core operations amid financial challenges.
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