Sony will lay off nearly 900 people from its PlayStation division, or about 8% of its global workforce, becoming the latest company to announce layoffs in the technology and gaming industry. Sony cited industry changes as the reason for the restructuring.

“The industry has changed tremendously, and we need to be future-ready to prepare our business for what’s ahead,” Sony Interactive Entertainment CEO Jim Ryan said in a blog post on Tuesday. said. “We need to meet the expectations of developers and players and continue to develop future technology in games, so we’ve taken a step back to make sure we’re focused on continuing to deliver the best gaming experience to the community.”

Tuesday’s layoffs come a month after Microsoft announced it would cut nearly 2,000 jobs following its acquisition of Activision Blizzard. And Riot Games, developer of the popular multiplayer fighting game “League of Legends,” announced in January that it would lay off 11% of its staff. Layoffs will occur in the Americas, Japan, Europe, the Middle East, Africa and the Asia-Pacific region.

PlayStation Studio will close completely in London. Cuts will also be made in Firesprite Studio. The company also said there would be cuts to Sony Interactive Entertainment’s UK operations. Severance pay will be paid to affected employees.

“While these are challenging times, this is not a sign of any weakness in our company, our brand or our industry,” Ryan said. “Our goal is to remain flexible and adaptable and continue to focus on delivering the best gaming experiences now and in the future.”