India, July 7 -- Microsoft announced on Monday that it will lay off around 4,800 employees - about 2% of its global workforce - as part of a cost-cutting drive that includes a major restructuring of its Xbox gaming division.

The move marks the biggest overhaul in Xbox's history, with around 3,200 gaming roles set to be eliminated over the coming fiscal year. The restructuring also involves spinning off or selling four game studios.

Among those affected by the job cuts is an Xbox employee of 21 years, Matthew LeClair, who took to LinkedIn to share the news.

In his LinkedIn post, Seattle-based LeClair said that he had been laid off despite giving more than two decades to Xbox. He also said that he had poured his "heart and soul" into Xbo...