Microsoft begins deep job cuts across Xbox division
Microsoft's Barcelona-based King division, which makes Candy Crush, is cutting 10% of its staff, or about 200 jobs, according to people familiar with the plans. Other European offices, such as ZeniMax, also began informing employees that job cuts were happening, said the people, who asked not to be identified because they were not authorized to speak to press.
US units were expected to be told later Wednesday how many jobs would be cut at each office. Microsoft's gaming division had about 20,000 employees as of January 2024.
Employees had been bracing for the job cuts since May, when Microsoft began conducting companywide layoffs and speculation mounted that the gaming division might be impacted. Many staff learned last week through a Bloomberg report that the cuts were imminent.
This is the fourth mass layoff at Xbox in the last 18 months. The gaming division has been under pressure from Microsoft executives to boost profit margins since purchasing Activision Blizzard for $69 billion in a deal that closed in October 2023.
Bloomberg earlier reported that Microsoft was planning to cut thousands of jobs this month, including many within the Xbox division. –BLOOMBERG
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For the purposes of Market Abuse Regulation (EU) 596/2014 and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Ben Adams, Director of External Communications for Athora Holding Limited. Certain information contained herein may be 'forward-looking' in nature. Due to various risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking information. As such, undue reliance should not be placed on such information. Forward-looking statements may be identified by the use of terminology including, but not limited to, 'may,' 'will,' 'should,' 'expect,' 'anticipate,' 'target,' 'project,' 'estimate,' 'intend,' 'continue' or 'believe' or the negatives thereof or other variations thereon or comparable terminology. 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The Sun
11 hours ago
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