Microsoft to lay off 650 jobs in Xbox unit amid cost-cutting measures
Microsoft announced plans to lay off 650 employees in its Xbox division, marking the third round of job cuts this year as it aims to control expenses and integrate its $69 billion acquisition of Activision Blizzard.
The job cuts will affect mostly corporate and supporting functions, Bloomberg reported, citing a memo sent to staff by Xbox chief Phil Spencer.Microsoft declined to comment on the news.
The technology giant had said in January it would let go of 1,900 employees at Activision Blizzard and Xbox.
In May, Xbox had shut down a number of gaming studios, including Arkane Austin, as the gaming industry grapples with rising game development costs and lukewarm growth.
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