Microsoft Layoffs: 650 Job Cuts in Xbox Games Division
Microsoft Layoffs Announced
Microsoft Corp. is implementing significant layoffs impacting 650 employees in its Xbox unit. According to Bloomberg, this marks the company's third job cut announcement this year as it seeks to control costs and efficiently integrate its $69 billion acquisition of Activision Blizzard Inc..
Details on the Job Cuts
These adjustments predominantly affect corporate and supporting functions, as detailed in a memo from Xbox CEO Phil Spencer. Despite the job losses, Spencer reassures that no games, devices, or experiences are being cancelled, and no studios are closing due to these layoffs.
Financial Implications on Microsoft Shares
The Microsoft job cuts come at a time when the company is trying to stabilize its operation, and analysts are watching how these layoffs will affect Microsoft shares. The impact of US job cuts like this could ripple through the tech industry as companies react to internal financial pressures.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.