Well at least during PS3 era. Now gaming division is looking to make its best result ever while launching a new console (making actually some money instead of losing it). If PS4 sales continue like they do it should become division with decent margin.
The gaming division is a drop in the bucket compared to divisions that actually make money, like the credit dept
They laid off staff at NOA, too, but for whatever reason that wasn't really reported.
NOC lost a few people as well iirc. Nobody involved in game dev obviously