Sony following in the footsteps of companies like Microsoft and Tencent owned Riot Games announces plans to lay off around 900 employees from its PlayStation division. This decision is attributed to the sluggish recovery of the gaming market post pandemic. Additionally, Sony is closing a studio in London. The layoffs will affect approximately 8% of the division workforce across regions from the Americas to Asia. The announcement comes shortly after Sony reduced its annual sales expectations for the PlayStation 5 console. Sony gaming chief Jim Ryan attributes the layoffs to changes in the industry development, distribution and product launch processes. Ryan is scheduled to retire in March.