Microsoft Cuts 500 More Jobs at Xbox Amid Restructuring Efforts

Microsoft has begun a new round of layoffs, affecting around 500 employees, primarily in its Xbox gaming division. This comes after the company laid off 4,800 employees, or 2.1% of its global workforce, in July.

The latest cuts are part of Microsoft's effort to slim down its gaming business after years of expansion and big acquisitions. Xbox aims to eliminate roughly 20% of its workforce by the end of Microsoft's fiscal year through a plan known as 'Xbox reset'.

Xbox executive Matt Booty wrote in a memo that the company has made significant progress in restructuring, with around three-quarters of the planned job cuts completed since July. The memo also outlined changes to Xbox's studio groups and divestment plans.