Microsoft cuts 4,800 jobs, many at Xbox in a 'reset' of its gaming division
5 hours ago
- #Microsoft Layoffs
- #Gaming Industry
- #Corporate Restructuring
- Microsoft announces 4,800 job cuts (2.1% of global workforce), including 1,600 at Xbox.
- Xbox CEO Asha Sharma cites unhealthy business margins and a 'hardware crisis' due to rising console costs.
- An additional 1,600 job cuts are expected this fiscal year; four game development studios are being spun off.
- The layoffs follow Microsoft's $69 billion Activision Blizzard acquisition, which failed to meet growth expectations.
- Microsoft's chief people officer states the cuts are not being replaced by AI and are linked to changing customer needs.