Microsoft's Xbox plans for major layoffs next month, Bloomberg News reports
The cuts follow an internal reset memo that cites a 3% accountability margin, $20 billion in spending and declining gaming revenue.
- Microsoft's Xbox division plans major layoffs next month, according to a Bloomberg News report.
- The job cuts would be the first major restructuring under new Xbox CEO Asha Sharma, who took over in February.
- Sharma said Xbox needs to rebuild its platform infrastructure and rethink its portfolio, citing declining revenue and high costs over the past five years.
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Stock Market Today, June 11: Microsoft Falls as AI Spending Scrutiny Adds to Xbox Restructuring Reports
Microsoft (NASDAQ:MSFT), a leading software and cloud platform provider, closed Thursday’s session at $390.34, down 1.77%. The stock moved lower as Xbox restructuring headlines and sector-wide AI spending worries following an Oracle (NYSE:ORCL) cloud miss pressured sentiment, and investors are watching how AI Copilot adoption and data-center demand support longer-term growth.The company’s trading volume reached 46.2 million shares, which is roug…
DECRYPTAGE - The video game publisher, far behind its historic competitors PlayStation and Nintendo, continues to lose money despite investments of several tens of billions of dollars. His new CEO sounds the alarm.
Xbox Shares Vision for Next 100 Days, But Layoffs May Be Coming Soon
Now that the Xbox Games Showcase has come and gone, Asha Sharma is outlining what the next 100 days will look like at Xbox. Additionally, a new report suggests layoffs may be on the way at the company. Reports Suggests Xbox Is Facing Incoming Layoffs Xbox presented an impressive array of upcoming titles during the recent Xbox Games Showcase and surprised fans with the reveal of a new commitment to bringing back Xbox exclusives. Despite the posit…
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