(KRON) — 2024’s rough road for tech workers across the San Francisco Bay Area took another unfortunate turn on Tuesday as a tech gaming giant announced it will eliminate 900 employees.
The San Mateo-headquartered company behind PlayStation, Sony Interactive Entertainment, will reduce its overall headcount globally by about 8 percent, according to CEO Jim Ryan.
“Employees across the globe, including our studios, are impacted,” Ryan wrote in a blog message to the “PlayStation community.”
Ryan’s blog post continued, “These are incredibly talented people who have been part of our success, and we are very grateful for their contributions. However, the industry has changed immensely, and we need to future ready ourselves to set the business up for what lies ahead. We need to deliver on expectations from developers and gamers and continue to propel future technology in gaming, so we took a step back to ensure we are set up to continue bringing the best gaming experiences.”
On Tuesday morning, the CEO sent out a message to all employees with the subject line, “Important Update Regarding Organizational Restructuring.” Ryan said 900 jobs will be eliminated across all locations, including California and Japan, and several PlayStation Studios will be impacted.
Ryan said the company’s goal through reducing its staff is to “to streamline our resources.”
The CEO’s email to employees stated, “I am writing with sad news. Through discussions over the past few months about the evolving economic landscape, changes in the way we develop, distribute, and launch products, and ensuring our organization is future ready in this rapidly changing industry, we have concluded that tough decisions have become inevitable. 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.”
Sony Interactive Entertainment launched the original PlayStation in Japan in 1994. The company is based in San Mateo and has game development studios in London and Tokyo.
In December, Sony Interactive Entertainment said the PlayStation 5 console surpassed 50 million units sold to consumers. The PS5 console had strong momentum last year, driven by a slate of popular games, the company said.
Major Bay Area technology companies have cut thousands of jobs since the start of 2024. Last week, Cisco revealed plans to lay off more than 4,000 employees. Last month, PayPal said announced it will slash about 2,500 jobs, and Microsoft said it would lay off around 1,900 employees.
Bay Area tech gaming company slashing hundreds of employees - KRON4
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