Sony Attempts to Deny Massive Layoff Connection to Tanking PS3

Sony executives have denied any connection between their ailing PS3 console, and the massive layoffs in their European and American branches yesterday.

The axe is being blamed on a "need to restructure and streamline," according to Sony's top brass.

So far, the layoffs are confined only to Sony's gaming division, which is the only division posting record losses by the electronics giant.

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