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xbox Another major round of layoffs is expected in July, as CEO Asha Sharma said a revamp of Microsoft's gaming division would begin within days. As of this writing, it is currently unclear how many jobs will be affected by the impending cuts at Xbox and its various gaming subsidiaries.
Xbox is planning to make some major job cuts in July.
Just days after the Xbox Games Showcase ended, Xbox is already planning a reset of the company's infrastructure. In a July 10 letter to Xbox employees, Sharma laid out several key points of the overhaul, including rebuilding the company's platform infrastructure. Sharma did not explicitly say in his letter that layoffs would occur, but sources said the job cuts are expected to occur after Microsoft's current fiscal year closes on Tuesday, June 30. It has been stated that Xbox will be cutting its marketing budget and other areas of the company, but the extent of the cuts is not yet known. Sharma said the company's profit margins had declined to 3% year-on-year. Excluding the Activision Blizzard acquisition, Sharma said Xbox has spent more than $20 billion over five years on ongoing investments, with annual revenue down nearly $500 million over that period.
Source: Bloomberg
