New Delhi, July 6 -- Microsoft has initiated what industry insiders are calling the largest single layoff cycle in gaming history, cutting 4,800 jobs, 2.1% of its workforce, on Monday, July 6, according to a CNBC report. Xbox division is reportedly losing about one-fifth of its staff amid Microsoft's latest push to cut costs in the artificial intelligence era.

"The way technology is built, deployed, and used is transforming faster than at any point in my time here," Amy Coleman, Microsoft's chief people officer and a 27-year company veteran, wrote in a message to employees.

Xbox is cutting 3,200 people through fiscal year 2027, the division's CEO, Asha Sharma, said in an email, according to CNBC.

She noted that 1,600 roles would be axe...