India, July 6 -- Microsoft (MSFT) has announced the layoff of around 4,800 employees, which is about 2.1% of its total global workforce. This is happening as the tech giant undergoes some major restructuring while ramping up its investments in artificial intelligence.
This latest round of job cuts is among the biggest we've seen from the company this year, particularly impacting its Xbox gaming division and commercial sales teams.
Out of the layoffs, about 1,600 positions are from Xbox, which is facing, in the words of Xbox CEO Asha Sharma, its "most significant restructure in Xbox history." The gaming division has been feeling the pinch with low profit margins, slower-than-expected growth in programs like Game Pass, and a tough market fo...