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eBusiness Life Magazine > Blog > NewsBytes > Microsoft Yields To Rising Game Development Costs With Job Cut
NewsBytes

Microsoft Yields To Rising Game Development Costs With Job Cut

Ebusiness Life
Last updated: 2024/09/12 at 9:26 PM
By Ebusiness Life
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Microsoft said it is cutting 650 jobs in its Xbox unit, the third such layoff this year as the company tries to rein in costs and integrate its $69 billion acquisition of Activision Blizzard, Bloomberg News reported on Thursday.

The job cuts will affect mostly corporate and supporting functions, the report said, citing a memo sent to staff by Xbox chief, Phil Spencer.

Microsoft did not immediately respond to a Reuters request for comment.

The technology giant had said in January it would let go of 1,900 employees at Activision Blizzard and Xbox.

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In May, Xbox had shut down a number of gaming studios, including Arkane Austin, as the gaming industry grapples with rising game development costs and lukewarm growth.

Ebusiness Life September 12, 2024 September 12, 2024
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