Sony is laying off hundreds of employees, marking another blow to Los Angeles’ struggling entertainment industry.
In a statement, the new chief executive said they are going to align their organization with where the business is going, not where it's been.
Among the cuts being made, Sony is getting rid of one of their special effects departments, which worked on “Game of Thrones” and “John Wick 4.”
Joe Flint, an LA-based media and entertainment reporter for the Wall Street Journal, said Sony, much like Disney, Paramount, and other companies, are looking to trim costs.
“At Sony, they touch on some of these in what they've been saying, which is a need to focus on what they feel are their core growth opportunities, which ironically include game shows, believe it or not, because they produce ‘Wheel of Fortune,’ ‘Jeopardy,’ “he said. “And even though those shows may not seem like a new thing to you, they're huge cash generators and IP that they feel they need to exploit better.”
In addition to game shows, Sony officials said they plan to focus on their gaming section of PlayStation and anime.
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