Microsoft is experiencing ongoing layoffs at Xbox, including cuts in its mobile game developer King, which is reducing its workforce by 10%. Similar layoffs are expected at Xbox's US studios and ZeniMax's European offices. These layoffs are part of a larger cost-cutting program at Microsoft, which has seen thousands of job cuts in recent years. Despite these reductions, Microsoft reported a net revenue of $70.1 billion and a net profit of $25.8 billion for the latest quarter, reflecting strong financial performance overall.
Microsoft is reportedly cutting more Xbox staff, including 10% of its mobile game developer King's staff, totaling around 200 layoffs in the Candy Crush studio.
Layoffs at Xbox are part of a wider cost-cutting program at Microsoft, which has seen thousands of employees let go over the past two years.
Despite layoffs, Microsoft's stock price has soared, with the latest quarter reflecting a net revenue of $70.1 billion and a net profit of $25.8 billion.
Phil Spencer mentioned that cutting Xbox staff was necessary for sustainable business operations, highlighting the challenging decisions being made at the company.
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