USA Today·3 min read·medium
Microsoft lays off 4,800 employees as Xbox studios spin off
✦AI Summary
Microsoft is cutting 4,800 jobs and restructuring its Xbox division, which includes spinning off several game studios into independent entities. The company is shifting its strategy away from console-exclusive titles to multi-platform distribution.
Hear this story Microsoft MSFT.O said on Monday it would cut 4,800 jobs, or about 2.1% of its global workforce, overhauling its Xbox gaming business and divesting up to five studios as it looks to boost returns after years of heavy investment in the division.
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