News

Microsoft Announces Workforce Reduction in Gaming Division

1 Mins read

Microsoft has revealed plans to reduce its gaming workforce by approximately 1,900 employees, which accounts for around 9% of its total gaming staff. This includes positions held at recently acquired gaming giant, Activision Blizzard.

According to a report from The Verge, Phil Spencer, the head of Microsoft Gaming and Activision Blizzard, sent an email to employees communicating their commitment to developing a strategy and execution plan that is aligned with a sustainable cost structure to support the growing business. A Microsoft spokesperson has confirmed the authenticity of the email.

Spencer continued by stating that the company will continue to invest in key areas that will contribute to the expansion of their business and help in bringing more games to a wider audience globally.

Following this news, Microsoft’s shares saw a slight increase of 1% in early trading on Thursday, reaching $406.40.

The decision to lay off employees comes three months after Microsoft successfully completed its $69 billion acquisition of Activision Blizzard.

It is worth noting that this move by Microsoft aligns with recent trends in the gaming industry, where multiple organizations are reducing their workforce in response to a challenging environment. Companies such as Riot Games, Unity, and Twitch have also announced job cuts.

Related posts
News

Valero's Benicia Refinery Incident

1 Mins read
Valero’s 149,000 b/d Benicia refinery in Northern California experienced flaring on Saturday following an unplanned unit shutdown, according to a Hazardous Materials…
News

HP Inc.'s Fiscal Results Insights

1 Mins read
HP Inc.’s stock experienced a 4% decline in extended trading on Wednesday following the release of their latest fiscal results that were…
News

Lawsuit Over Crown Castle Governance Rights

1 Mins read
Overview Crown Castle co-founder Ted Miller, along with his investment vehicle, has filed a lawsuit challenging an agreement between the company’s board…

Leave a Reply

Your email address will not be published. Required fields are marked *

7 + = 13