Microsoft cuts 4800 jobs and divests 4 game studios

Microsoft will lay off 4,800 employees, equivalent to approximately 2.1 percent of its workforce. The American technology giant is making this decision as part of cost-reduction efforts and restructuring of its Xbox gaming division. According to internal company messages, this workforce reduction follows Microsoft's launch of a voluntary retirement program in April, the first of its kind in the company's history. As part of this restructuring, Microsoft will divest four game studios from its portfolio.

# Microsoft to Cut 4,800 Jobs and Divest Four Game Studios