Microsoft cuts 4,800 jobs and restructures Xbox in sweeping layoffs

Microsoft announced 4,800 job cuts, with Xbox undergoing the largest reduction and four studios being spun off.

• Microsoft cut 4,800 jobs, roughly 2.1% of its workforce, with more than 1,600 roles immediately axed at Xbox.
• Amy Coleman, executive vice president, told employees in a memo that the company needed to focus on areas that can deliver for customers amid a "fast-changing industry."
• Asha Sharma, Xbox's chief executive, said the company was "beginning the most significant restructure in Xbox history" and that four game development studios would be spun off.
• Another 1,600 roles will be reduced from Xbox as a result of the changes, and Minecraft developer Mojang and Candy Crush developer King will now report directly to Sharma.