COVID-19 pandemic's impact on the world cannot be overstated at this point. Many industries have been ground to a halt as the world struggles to combat the spread of the virus, and the gaming industry is very much among those that have been impacted. As more and more companies adopt work-from-home policies, production becomes significantly more difficult to keep up. In an announcement earlier today, Sony discussed the impact the pandemic has had on them, as well as their plans for how they'll move forward with production in 2020 and beyond. Beginning with condolence for those that have lost friends and family to the pandemic already, Sony discusses how important safety is to them in the midst of this crisis. "The Sony Group is primarily focused on ensuring the safety of its employees and their families, as well as its customers and other stakeholders, in addition to preventing the further spread of the virus." To accomplish this, Sony is doing the following in their offices around the world Closing a large portion of offices based out of Europe and the United States to allow employees to work from home. In Japan and other nations, employees must also work from home, but a small number of essential employees continue to work in offices. Manufacturing plants in China had been shut down according to government mandates, but have safely returned to the level of production they once maintained. Manufacturing plans in Kuala Lumpur, Penang, and Wales have been shut down until mid-April in a planned shutdown in accordance with local government mandates. Discussing what impact this has had, Sony has a great deal that they can discuss. Sony, of course, isn't only known for their PlayStation brand; the company also heads a massive music and film branch, both of which have been heavily impacted. As you might expect, we'll mostly focus on their gaming outlets, but know that their Music and Film branches have had a variety of shutdowns and impacts as well as they strive for safety. Speaking on gaming, the team insists that they'll be able to keep the PlayStation 5 to release as planned later this year. Overall, they expect no material impact on their gaming branch for the current fiscal year, though it is widely expected that they may be reporting losses at the end of the fourth quarter. While they continue to heavily monitor the spread of COVID-19, the team expects no delays, but will not hesitate to act accordingly should further action be required to combat the virus.
COVID-19 pandemic's impact on the world cannot be overstated at this point. Many industries have been ground to a halt as the world struggles to combat the spread of the virus, and the gaming industry is very much among those that have been impacted. As more and more companies adopt work-from-home policies, production becomes significantly more difficult to keep up. In an announcement earlier today, Sony discussed the impact the pandemic has had on them, as well as their plans for how they'll move forward with production in 2020 and beyond. Beginning with condolence for those that have lost friends and family to the pandemic already, Sony discusses how important safety is to them in the midst of this crisis. "The Sony Group is primarily focused on ensuring the safety of its employees and their families, as well as its customers and other stakeholders, in addition to preventing the further spread of the virus." To accomplish this, Sony is doing the following in their offices around the world Closing a large portion of offices based out of Europe and the United States to allow employees to work from home. In Japan and other nations, employees must also work from home, but a small number of essential employees continue to work in offices. Manufacturing plants in China had been shut down according to government mandates, but have safely returned to the level of production they once maintained. Manufacturing plans in Kuala Lumpur, Penang, and Wales have been shut down until mid-April in a planned shutdown in accordance with local government mandates. Discussing what impact this has had, Sony has a great deal that they can discuss. Sony, of course, isn't only known for their PlayStation brand; the company also heads a massive music and film branch, both of which have been heavily impacted. As you might expect, we'll mostly focus on their gaming outlets, but know that their Music and Film branches have had a variety of shutdowns and impacts as well as they strive for safety. Speaking on gaming, the team insists that they'll be able to keep the PlayStation 5 to release as planned later this year. Overall, they expect no material impact on their gaming branch for the current fiscal year, though it is widely expected that they may be reporting losses at the end of the fourth quarter. While they continue to heavily monitor the spread of COVID-19, the team expects no delays, but will not hesitate to act accordingly should further action be required to combat the virus.
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