Microsoft cuts 4,800 jobs, as Xbox unit downsizes and plans to spin off four gaming studios

Microsoft has announced significant layoffs affecting 4,800 employees, primarily within its Xbox division, as the company struggles with declining revenue. The decision also includes plans to spin off four gaming studios, signaling a major restructuring. This move underscores the challenges Microsoft faces in the competitive gaming market and suggests a strategic shift aimed at refocusing its resources and improving profitability. The downsizing reflects broader industry trends where companies are reevaluating their operations to remain competitive.