Sony is shuttering its Sony Pictures Technologies group, the company announced Wednesday, resulting in layoffs of more than 30 people that will also impact the studio’s home entertainment division, according to sources familiar with the situation.
Chris Cookson, the group’s president, is among those leaving the company, Sony said in its statement (below). Sony Pictures Technologies helped oversee the studio’s participation in the cloud-based UltraViolet distribution system as well as its embrace of 4K and 3D technology.
“As part of the Company’s previously announced efforts to evolve its operations, Sony Pictures Entertainment (SPE) is absorbing the functions of Sony Pictures Technologies into various core businesses. Regrettably, Chris Cookson will leave the Company as a result. In related moves, SPE has streamlined technology groups across its businesses to accelerate creative and technological innovation. The entire Company wishes to express its deep gratitude to Chris, his team, and the other groups involved in these changes.”
Since Sony Pictures Entertainment Chairman Michael Lynton announced that the company was planning to cut millions of dollars in staff and overhead, slightly less than 50 people have been laid off. That number could rise, however, as the studio is continuing to look for ways to reduces expenses.
Sony hired Bain & Co. late last year to scrutinize all of SPE’s operations to the tune of $250 million in cuts.