A new report states that major layoffs are being planned for the Xbox division, which is part of new Chief Executive Officer Asha Sharma’s overhaul of the video game division. The layoffs are expected shortly after the close of Microsoft’s fiscal year, which happens on June 30th. In addition to the layoffs, sources said that Xbox is planning to significantly slash budgets for its marketing department and other areas of the business.
Unfortunately, the latest news from Microsoft Corp’s Xbox division isn’t great, as a new report states that major layoffs are being planned for the Xbox division.
This is part of new Chief Executive Officer Asha Sharma’s overhaul of the video game division, which is aiming to counteract declining revenue. The number of layoffs isn’t known at this time, but they are expected shortly after the close of Microsoft’s fiscal year, which happens on June 30th.
In addition to the layoffs, sources said that Xbox is planning to significantly slash budgets for its marketing department and other areas of the business. This is all in response to declining revenue over the past several years, and Sharma spoke a bit about those issues in a blog post titled ‘#2: We will end this fiscal year at about a 3% accountability margin, down year-over-year.
Excluding Activision Blizzard King, over the past five years, we have spent over $20 billion on ongoing investments in our content, platform, and hardware subsidy, but our annual revenue has declined nearly half a billion during that time. Going forward, this cannot continue.
’ This is also why there’s been an overall shift in approach to Xbox as a brand and a console, and at the Xbox Showcase it was revealed that both Gears of War: E-Day and Clockwork Revolution will be Xbox exclusives. It’s been assumed that E-Day was headed to PlayStation as well, especially after the recent Reloaded offering hit PS5, though the Halo remake is still heading to PlayStation later this year.
It’s always awful when layoffs hit, and if they are set to happen, we hope everyone lands on their feet
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