Microsoft cuts 4,800 jobs as it revamps Xbox in latest wave of mass layoffs

Microsoft is undergoing a major restructuring by cutting 4,800 jobs, about 2% of its workforce, as it overhauls its Xbox division. This move includes eliminating around 3,200 gaming jobs and spinning off or selling four game studios. This overhaul signals Microsoft's shift towards heavy investment in AI and other areas, reflecting a broader trend in tech companies streamlining operations to focus on their most profitable sectors. Such massive layoffs highlight the pressures tech firms face to remain competitive and efficient in an ever-evolving industry.