- Xbox announces 'most significant restructure' in history, cutting up to 3,200 employees over next year.
- 1,600 layoffs immediately, including 4 studios being spun out or sold: Ninja Theory, Undead Labs, Compulsion Games, and Double Fine Productions.
- Arkane studio also undergoing consultation for divestment.
- No first-party games or projects canceled due to reductions.
- Layoffs affect multiple divisions like Activision, Bethesda/ZeniMax, Blizzard, King, Mojang, and Xbox Game Studios.
- Content spend will remain similar, but with different priorities, focusing on 'Minecraft' and 'Elder Scrolls' as major growth areas.
- Platform teams are 40% larger despite declining player base and playtime.
- Management layers reduced from up to 14 to no more than 5, aiming for 3 where possible.
- Helen Chiang promoted to Chief Operating Officer; Dave McCarthy retiring.
- Mojang and King studios now report directly to CEO Asha Sharma.
- Goal: Return to growth by 2027, aim to entertain over a billion people daily.