Microsoft’s Xbox to Cut 3,200 Jobs, Divest Studios in Overhaul
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Microsoft Corp.’s Xbox plans to eliminate 3,200 jobs, or around 20% of its staff over the next year, as part of a massive reorganization to spur growth in the struggling gaming division. Xbox will also divest four of its video-game development studios and is beginning the process to part ways with a fifth. “Our business today is not healthy,” Chief Executive Officer Asha Sharma wrote in a note to staff Monday morning, adding that Xbox is operating at margins three to 10 times lower than comparable businesses. “We must reset Xbox.” Brody Ford, Bloomberg Technology Reporter, joined Bloomberg's Paul Sweeney and Scarlet Fu to talk about Microsoft's XBox layoffs. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect
Tags: Gaming, Layoffs, Microsoft, Microsoft Corp., Restructuring; Turnaround, Xbox, Xbox 360, Xbox One X, development, firing, gaming console, sales, video games
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