Xbox announces business 'reset' amid reports of layoffs and studio closures
Xbox CEO Asha Sharma announced a business 'reset' for Microsoft's gaming division, signaling significant layoffs and potential studio closures following years of declining revenue. The memo cites a substantial increase in component costs for hardware and memory, exacerbated by past expansion choices, as a major challenge. Sharma and Xbox content chief Matt Booty aim to revive the company by evolving its business model and partnerships over the next 100 days.
- Entities
- Topic: Component Shortage
- Company: Xbox Game Studios
- Company: Microsoft
- Topic: Business Strategy
- Topic: Layoffs
- Company: Activision Blizzard
- Company: ZeniMax
- Company: Xbox
- Person: Matt Booty
- Topic: Studio Closures
- Person: Asha Sharma
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