New York (Lord Media): Microsoft has announced plans to lay off approximately 4800 employees worldwide, accounting for 2.1 percent of its total workforce. The Xbox division is the most affected by these layoffs.
Microsoft confirmed that 1600 Xbox employees have already been dismissed, with more layoffs expected. This move is part of the Xbox division’s restructuring and business stabilization efforts.
Xbox Chief Executive Asha Sharma stated that the company is currently operating at a low profit margin, which is 3 to 10 times less than other platforms.
Asha Sharma mentioned the ongoing hardware crisis in the gaming industry, highlighting that rising costs of gaming console components are impacting the business.
According to her, Xbox is facing stiff competition from Sony’s PlayStation and Nintendo’s Switch, prompting significant changes in the company’s business structure.
