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PlayStation laying off 900 workers, closing PlayStation Studios London (www.polygon.com)

submitted 8 months ago by [email protected] to c/[email protected]

10 comments fedilink hide all child comments

According to Kotaku, we're well over last years head count in layoffs.

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[–] [email protected] 35 points 8 months ago* (last edited 8 months ago) (1 children)

The largest factor is lack of capital, which is something everyone is enduring due to the SVB collapse. This is a giant recession of the entire sector and I don't see how it corrects any time soon.

[–] [email protected] 6 points 8 months ago (1 children)

Some are saying it'll correct this year, but I'm not holding my breath...

[–] [email protected] 1 points 8 months ago

While breathing is cool, I have some hope that it will start correcting this year or next.

The big thing is that the raised interest rates have helped to prevent a real recession. So the real question is when can they come back down. I hope it starts this year even though it'll likely take years to go back to what they were pre-pandemic, if the go that low again.