Microsoft's Xbox division will be hit with significant layoffs next month, according to people familiar with Microsoft's plans. The company has been preparing for the layoffs internally for weeks, with Xbox CEO Asha Sharma hinting about "making hard choices" last month . Sources suggest the cuts could even involve a studio closure, or changes to the Xbox studio lineup. In a recent Giant Bomb episo...
Microsoft's Xbox division will be hit with significant layoffs next month, according to people familiar with Microsoft's plans. The company has been preparing for the layoffs internally for weeks, with Xbox CEO Asha Sharma hinting about "making hard choices" last month . Sources suggest the cuts could even involve a studio closure, or changes to the Xbox studio lineup. In a recent Giant Bomb episode , rumors of 1,000 layoffs for Microsoft's Xbox division were mentioned. Bloomberg also reported today that the cuts would be "major." Moments before Bloomberg 's report, Xbox CEO Asha Sharma and chief content officer Matt Booty sent a memo to Xbox … Read the full story at The Verge.
Tom Werner Microsoft’s ( MSFT ) Xbox is planning major layoffs at the end of the company’s fiscal year on June 30 as part of a sweeping reorganization of the business under new CEO Asha Sharma, according to sources cited by Bloomberg. The division also plans to “significantly slash” budgets for marketing and other areas of the business, amid a “resetting of the business.” Sharma has been quoted as...
Tom Werner Microsoft’s ( MSFT ) Xbox is planning major layoffs at the end of the company’s fiscal year on June 30 as part of a sweeping reorganization of the business under new CEO Asha Sharma, according to sources cited by Bloomberg. The division also plans to “significantly slash” budgets for marketing and other areas of the business, amid a “resetting of the business.” Sharma has been quoted as saying the cuts are necessary as Xbox is “not in a healthy spot” and that the business had plummeted to a 3% “accountability margin,” referring to the metric Microsoft ( MSFT ) uses to measure its profit margin. “We are the fortunate stewards of industry-defining franchises that have enormous potential and player demand, but we have not adequately funded them to compete and win,” she added. The reorganization comes as Xbox struggles to regain relevancy among gamers after several years of price hikes, cancelled games, shuttered studios, and releasing some of its video games on competitors’ consoles to augment revenue. More on Microsoft Microsoft: OpenAI Exposure Manageable And Palantir Competition Contained Alphabet And Microsoft: Holding The Winner, Buying The Laggard Microsoft: The $37 Billion AI Question Investors Can't Ignore OpenAI prepares tender offer of $687 per share; Altman expects to go public within year: report Microsoft lays off hundreds from Azure unit in China: report
Tom Werner Microsoft’s ( MSFT ) Xbox is planning major layoffs at the end of the company’s fiscal year on June 30 as part of a sweeping reorganization of the business under new CEO Asha Sharma, according to sources cited by Bloomberg. The division also plans to “significantly slash” budgets for marketing and other areas of the business, amid a “resetting of the business.” Sharma has been quoted as...
Tom Werner Microsoft’s ( MSFT ) Xbox is planning major layoffs at the end of the company’s fiscal year on June 30 as part of a sweeping reorganization of the business under new CEO Asha Sharma, according to sources cited by Bloomberg. The division also plans to “significantly slash” budgets for marketing and other areas of the business, amid a “resetting of the business.” Sharma has been quoted as saying the cuts are necessary as Xbox is “not in a healthy spot” and that the business had plummeted to a 3% “accountability margin,” referring to the metric Microsoft ( MSFT ) uses to measure its profit margin. “We are the fortunate stewards of industry-defining franchises that have enormous potential and player demand, but we have not adequately funded them to compete and win,” she added. The reorganization comes as Xbox struggles to regain relevancy among gamers after several years of price hikes, cancelled games, shuttered studios, and releasing some of its video games on competitors’ consoles to augment revenue. More on Microsoft Microsoft: OpenAI Exposure Manageable And Palantir Competition Contained Alphabet And Microsoft: Holding The Winner, Buying The Laggard Microsoft: The $37 Billion AI Question Investors Can't Ignore OpenAI prepares tender offer of $687 per share; Altman expects to go public within year: report Microsoft lays off hundreds from Azure unit in China: report