Latest news with #ZeniMax
Yahoo
03-07-2025
- Business
- Yahoo
Microsoft Stock Climbs as Layoffs Force Cancellation of Top Xbox Games
July 3 - Microsoft (NASDAQ:MSFT) stock rose about 2% Thursday morning after the company's layoffs at Xbox game studios led to several high?profile cancellations. Warning! GuruFocus has detected 6 Warning Sign with MSFT. The cost cuts have ended development on a new Perfect Dark title, Rare's Everwild and an unannounced MMO at ZeniMax Online Studios. Blizzard's Warcraft Rumble will also see no new content, while undisclosed projects at Romero Games lost funding. Multiple studios felt the impact. Halo Studios, Sledgehammer Games and High Moon cut staff, Raven Software reduced headcount, and Turn 10 Studios let go roughly half its workers. King will trim about 10% of its team. Meanwhile, The Initiative is closing with Perfect Dark's cancellation, and ZeniMax and Blizzard are shifting some employees to other roles. The news underscores Microsoft's push to streamline its gaming division amid broader tech sector belt?tightening. Investors will be watching whether these moves free up resources for core franchises like Halo and Forza, or risk alienating fans as Microsoft balances costs against its long?term gaming ambitions. This article first appeared on GuruFocus.
Bloomberg
03-07-2025
- Entertainment
- Bloomberg
Xbox Executives Were Blown Away by an Upcoming Game. Then They Canceled It.
Blackbird, a new game from ZeniMax Online Studios, impressed Xbox boss Phil Spencer earlier this year
Time of India
03-07-2025
- Business
- Time of India
7 key things to know about Microsoft's second-biggest layoff in history
Microsoft is undergoing another major round of layoffs, impacting around 9,000 employees — roughly 4% of its global workforce. This move marks the company's second largest round of job cuts in 2025 and reflects its ongoing efforts to streamline operations and reshape teams amid changing business priorities. The layoffs span across departments, locations, and seniority levels, with a significant number affecting its Xbox gaming division. Studios like King, ZeniMax, and Turn 10 are among those hit, and projects like Perfect Dark and Everwild have been scrapped. Here's everything you need to know about Microsoft's latest workforce reduction. Microsoft job cuts: Number of people laid off Employees from various teams, locations, and seniority levels will be affected by the latest round of job cuts announced by Microsoft. The software giant revealed that it is laying off 4% of its global workforce that translates to around 9,000 employees. Microsoft said that the job cuts are part of "organizational changes necessary to best position the company and teams for success in a dynamic marketplace." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Microsoft job cuts: Several Gaming Studios closed Employees in Microsoft's Xbox division known as Microsoft Gaming will be hit hard by these layoffs. While the exact numbers and divisions are not known yet. According to a Bloomberg report, King, the Microsoft-owned company behind Candy Crush, is cutting about 10% of its staff, or around 200 jobs. Other parts of Microsoft, like ZeniMax, are also laying off workers. The company is also cutting over 70 jobs at its Forza Motorsport studio, Turn 10, and has cancelled the games Perfect Dark and Everwild. The game studio working on Perfect Dark, called The Initiative, is also shutting down because of these job cuts. Microsoft's second biggest job cut of 2025 Notably, this is the second biggest job cut by Microsoft in the year 2025 and its second largest overall. The company slashed 6,000 jobs in May this year, targeting product and engineering roles, followed by at least 300 more job cuts in June. The company then cited the need to "remove layers of management to increase agility and effectiveness" while redirecting resources toward artificial intelligence development. What Microsoft spokesperson said A Bloomberg report quotes a Microsoft spokesperson who said the job cuts will affect employees from different teams, locations, and experience levels, as Microsoft aims to simplify its structure and reduce management layers. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' the spokesperson added. What Microsoft gaming division head said in internal memo Xbox leader Phil Spencer sent an internal memo to its employees. Informing about the layoff, Spencer said 'To position Gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness.' 'Prioritizing our opportunities is essential, but that does not lessen the significance of this moment. Simply put, we would not be where we are today without the time, energy, and creativity of those whose roles are impacted,' he added. 'HR is working directly with impacted employees to provide severance plan benefits (aligned with local laws), including pay, healthcare coverage, and job placement resources to support their transition.' Previous job cuts by Microsoft Microsoft has held several rounds of layoffs in recent years. In 2023, it slashed 10,000 jobs, following the company's $69 billion Activision Blizzard acquisition in October 2023. In 2024, the tech giant cut 11,000 jobs last year. The company had laid off multiple employees this year alone. In May, Microsoft slashed 6,000 jobs, plus an additional 305 cuts in June. Impact on Microsoft stock According to a CNBC report, Microsoft stock hit a record high of $497.45 on June 26. On Wednesday - July 2, it dipped slightly by 0.2%, while the S&P 500 rose 0.5%.
The Verge
02-07-2025
- Business
- The Verge
The president of ZeniMax Online Studios is leaving.
Xbox hit hard with layoffs: from cancelled games to a shuttered studio See all Stories Posted Jul 2, 2025 at 8:47 PM UTC The president of ZeniMax Online Studios is leaving. Matt Firor is departing 'later this month' after more than 18 years of heading up the organization, he says.
Yahoo
27-06-2025
- Business
- Yahoo
ZeniMax and Microsoft ratify union agreement
Members of the ZeniMax Workers United-CWA union have ratified the contract agreement with parent company Microsoft. This agreement with the union representing the video game studio's quality assurance employees marks the first time Microsoft has entered into any union contract in the US. ZeniMax Studios is probably best known for its work on The Elder Scrolls Online. Stephen Totilo first reported on this news; we've reached out to Microsoft and the Communications Workers of America for additional comment. As with many organizing efforts, this step has been a long time coming. The group of employees voted to unionize in 2023, and Microsoft immediately recognized ZeniMax Workers United-CWA following the vote results. Microsoft also made its policy of neutrality toward union organizing at ZeniMax official in 2024. The QA workers from ZeniMax and Microsoft reached a tentative contract this May. The contract includes provisions for wage increases and minimum salaries, as well as industry-specific content such as a clearer crediting policy recognizing the role of QA and protections for the employees regarding use of AI. Update, June 20 2025, 12:18PM ET: Microsoft provided Engadget with the following statement, attributed to the company's Vice President and Deputy General Counsel, Amy Pannoni: 'This agreement reflects our ongoing commitment to employee voice and collaborative labor relations. Reaching this milestone with the ZeniMax quality assurance team and CWA is another step toward helping everyone here do their best work.'
