Microsoft cuts 4,800 jobs and shrinks Xbox in 'significant restructure'

Microsoft has announced a major restructuring that includes cutting 4,800 jobs, or 2.1% of its workforce, with significant layoffs impacting its Xbox division, where 1,600 jobs were eliminated. This move is part of a broader strategy to streamline operations and focus on high-growth areas, reflecting the tech giant's efforts to stay competitive in a rapidly evolving market. While the decision underscores the challenges faced in the gaming sector, it also highlights Microsoft's commitment to strategic realignment in pursuit of its long-term goals.