Microsoft cuts 4,800 jobs, including many at Xbox in a ‘reset’ of its gaming division
Summary
Microsoft is cutting 4,800 jobs worldwide, including 1,600 workers at its Xbox gaming division. The company said this is part of a plan to reorganize Xbox because the business is not doing well and faces high competition and rising hardware costs.Key Facts
- Microsoft is laying off 4,800 workers, about 2.1% of its total workforce.
- 1,600 of the job cuts are at Xbox, with more expected later this year.
- Xbox CEO Asha Sharma said the business is currently unhealthy.
- Xbox’s profit margins are 3 to 10 times lower than other similar companies.
- Xbox competes with Sony’s PlayStation and Nintendo’s Switch.
- The video game industry is dealing with a “hardware crisis” due to rising costs for console parts.
- These changes are part of a plan to “reset” Xbox to improve its performance.
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