• Loading stock data...
Saturday, May 10, 2025
Join us May 14 at 1 p.m. ET for Future of Sports: Leagues of Their Own Register Now

Sony to Lay Off 900 From PlayStation Team After Missed Sales Target

  • Cuts come amid a tough stretch for the gaming industry.
  • PlayStation will shift its focus to PC gaming.
Sony-Playstation-Demo-Booth
Shutterstock

Sony is making cuts to its PlayStation division after a rough earnings report. 

Days after the company missed a PS5 sales target, which led to its stock plummeting by $10 billion, Sony said it’s laying off 900 members of its PlayStation division. The cuts represent about 8% of its workforce globally. The layoffs will hit a number of PlayStation studios, including Insomniac Games, Naughty Dog, Guerrilla Games, and Firesprite, among others. Sony will also close its PlayStation Studio in London, which specializes in virtual reality games. Last week, the company announced it was working on a PC adaptation for its PlayStation VR2, a virtual reality headset. 

The layoffs are the latest in a tough stretch for the gaming industry. In January, Microsoft laid off around 1,900 employees from its Xbox and Activision Blizzard divisions, which, like Sony’s cuts, is roughly 8% of its gaming workforce. Unity laid off 25% of its workforce in January, as did Discord, which cut 17% of its employees.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Apr 26, 2025; Miami, Florida, USA; Miami Heat center Bam Adebayo (13) dribbles the basketball as Cleveland Cavaliers forward Evan Mobley (4) defends in the third quarter during game three for the first round of the 2025 NBA Playoffs at Kaseya Center.

Jared Kushner’s Brother Bought Small Stake in Miami Heat Last Year

Kushner reportedly sold his Grizzlies stake to buy an interest in the Heat.
Curry

Brady, Curry, Ohtani Get Most Claims Dropped in FTX Endorser Suit

The judge did call the endorsers “uninformed, negligent, or even reckless.”
Bill Belichick

UNC Denies Report Jordon Hudson Was Barred From Football Facility

Pablo Torre stood by his reporting on Bill Belichick’s girlfriend.

Featured Today

Apr 18, 2024; Los Angeles, CA, USA; Stanford Cardinal vs Grand Canyon University Antelopes during the MPSF Men's Volleyball Championship at Galen Center.

‘What Just Happened’: Inside the Abrupt End of Grand Canyon Men’s Volleyball

Inside Grand Canyon’s shocking decision to cut men’s volleyball.
Mar 26, 2025; New York, New York, USA; Actor and filmmaker Spike Lee (l) greets former professional boxer Floyd Mayweather Jr. during the game between the LA Clippers and the New York Knicks at Madison Square Garden.
May 9, 2025

‘Friends of the Garden’: Inside the NBA’s Most Exclusive Celebrity Suite

“Among the titans of industry, deals are done at Suite 200.”
exclusive
May 9, 2025

Shams Charania on Draft, Breaking Dončić Trade, ‘Whirlwind’ ESPN Tenure

Charania will work on his first NBA draft lottery for ESPN on Monday.
Fat Perez reacts after hitting his shot on the 16th tee during the WHOOP Shot at Glory on the 16th hole at TPC in Scottsdale on Feb. 5, 2025.
May 7, 2025

Golf Influencers Are the New Currency for PGA Tour and LIV

YouTube golf is big business. The rival tours are staging formal events.

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Portfolio Players is our bi-weekly spotlight on the athletes and investors reshaping the business of sports. This week, venture capitalist Kai Cunningham unpacks why athletes land top deals and how the usual investing rules don’t always apply.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.
July 24, 2024

The Perfect Storm Propelling ‘EA Sports College Football’ to Early Success

Growing fandom and a long wait have already reaped dividends for EA.