The PS3 version of Bayonetta has a multitude of problems with one of the most difficult to ignore being the advanced load times that plague the PS3 version of the game. It appears that SEGA (the game's publisher/developer) is working on a solution as 1Up.com is reporting that a SEGA representative responded to a message board complaint about the load times by saying "I can, in fact, speak on [the developer's] behalf in saying that a patch to correct this issue is under consideration through development to address the matter of the overwhelming load times with Bayonetta."
"Something I cannot address directly is when this will occur however I will be tracking this directly on all sides (the Japanese, North American, and European versions) as to ensure that we know exactly the status of each one. Provided that I am given full disclosure on this, I will be sure to keep you posted on what to expect."
Apparently you should be looking for the update to occur around January 5, 2010.