Former PlayStation executive Shuhei Yoshida has attributed the current wave of video game industry layoffs and slowdown to companies overextending during the COVID-19 pandemic. "I think it's an overreaction to the COVID situation. Companies invested too much, including ourselves. Then we had to face reality and make adjustments," Yoshida told VentureBeat in an interview. Yoshida, who left Sony in January after 31 years at PlayStation, suggested the industry's growth would have been more stable without the pandemic-driven surge. "If you take out the COVID years you'd have smoother growth over the years," he said. Yoshida's comments come amid widespread job cuts across the gaming sector, including at Sony, Microsoft, Epic Games, and other major publishers following a post-pandemic decline in gaming engagement.

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According to Downdetector, PlayStation Network (PSN) has been down since 6 PM ET, with Sony assuring users that they're working to fix the problem "as soon as possible." For gaming specifically, Sony says that "you might have difficulty launching games, apps, or network features." "We are aware some users might be currently experiencing issues with PSN," Sony said in an 8:46PM ET post on X. No further details were made available. An r/PlayStation thread has more than 10,000 comments. As of 11:35 PM PST, the service remains down.

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