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Microsoft lays off 4,800 people, with Xbox accounting for about 3,200 job cuts.

MarsBitNews
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Mars Finance News: Microsoft announced layoffs of 4,800 positions, accounting for approximately 2.1% of its global workforce. The Xbox gaming division bore the brunt, having already cut 1,600 jobs on July 6, with an additional 1,600 expected to be cut within the current fiscal year, totaling about 3,200 positions. Xbox CEO Asha Sharma, who took over in February, admitted to employees that the business is currently unhealthy, stating that Xbox's profit margins are three to ten times lower than those of similar platforms and publishing businesses. Rising costs of console components have intensified competition with Sony's PlayStation and Nintendo's Switch. Microsoft will also divest four previously acquired studios, with Compulsion Games and Double Fine operating independently, and Ninja Theory and Undead Labs being transferred to new owners, partially reversing the gaming landscape built three years ago with the $69 billion acquisition of Activision Blizzard. Chief People Officer Amy Coleman said the company launched a buyout program in April, and over one-third of eligible employees accepted. Microsoft's stock price has fallen about 19% over the past six months.
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