Sony Cuts Jobs in Wake of PS3 Launch

Sony Computer Entertainment announced today that they will be cutting up to 8% of their European workforce, but denies that the move has anything to do with the sales of their flagship product the Playstation 3, the BBC reports. With roughly 1,900 employees in Europe, that is no small chunk of people. The move was in response to "changing market conditions", which to me sounds a lot like no longer the leader in console sales.

Sony Computer Entertainment said it would revamp its European arm, with the potential loss of up to 160 jobs.

This was a response to changing market conditions, it said, and not the performance of the PS3, belatedly launched in Europe last month.

Read more on the BBC.