India, July 7 -- In one of its biggest overhauls, Microsoft is planning to lay off 4,800 people - roughly two percent of its global workforce. The announcement came as a big shock for many but is also the latest in a string of such moves being made by Microsoft over the past one year. The only bigger mass layoff by the tech giant was in June last year, when it said that it would let go less than 4% of the workforce it had in 2024, which would come to around 9,000 people.

This time, the restructuring majorly centres around its gaming division Xbox, with approximately 3,200 gaming jobs to be shed over the coming fiscal year, reported news agency AFP. These layoffs include positions at four studios that are being spun off or sold.

Xbox CEO...