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autotldr Bot ,

This is the best summary I could come up with:

Electronics giant Sony announced on Tuesday that it will be cutting 900 jobs, or 8%, in PlayStation’s global workforce.

The layoffs will impact all regions for Sony Interactive Entertainment, according to the PlayStation press release, with its in-house London studio, responsible for the competitive singing video game “Singstar,” closing entirely.

“These are incredibly talented people who have been part of our success, and we are very grateful for their contributions,” wrote Jim Ryan, president and CEO of Sony Interactive Entertainment.

“However, the industry has changed immensely, and we need to future ready ourselves to set the business up for what lies ahead.”

The workforce reduction follows the company slashing sales forecasts for the year and Naomi Matsuouka, Sony senior vice president, saying the PlayStation 5 console was approaching the latter end of its life cycle, according to Bloomberg.

Ryan had already announced in September plans to retire in March as Sony Group Corporation president.

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