"Sony's PlayStation Division to Cut 900 Jobs Worldwide"

Sony is laying off around 900 employees, approximately 8% of its global headcount, impacting various PlayStation studios including Insomniac Games, Naughty Dog, Guerrilla Games, and Firesprite. The layoffs come after Sony missed a PS5 sales target, leading to a stock price drop of $10 billion. The company is also closing its London Studio in the UK and making reductions in other functions. The move is part of a restructuring effort to focus on long-term sustainability and delivering the best gaming experiences, with a shift towards PC and mobile gaming. This comes amidst a wave of layoffs in the gaming and tech industries, including recent layoffs at Microsoft, Unity, and Discord.