Skip to main content

Microsoft To Lay Off 1,900 People After Activision Gaming Buyout

Microsoft is laying off 1,900 people, or eight percent of staff, from its gaming division as it consolidates the blockbuster buyout of "Call of Duty" maker Activision Blizzard.

In a memo to employees reported by US media The Verge on Thursday, the head of Microsoft's gaming division Phil Spencer said the cuts came after synergies were found between the two companies.

Spencer told employees that Microsoft and Activision were committed to finding a "sustainable cost structure" to grow the gaming business, which employs 22,000 people and includes the Xbox division.

"Together, we've set priorities, identified areas of overlap, and ensured that we're all aligned on the best opportunities for growth," he added.

Alongside the layoffs, Blizzard president Mike Ybarra said he was leaving the company.

"It's an incredibly hard day and my energy and support will be focused on all those amazing individuals impacted," Ybarra said on X, formerly Twitter.

Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.

The buyout faced stiff scrutiny from regulators, including in the United States, but the transaction eventually prevailed.

Britain's regulator originally blocked the deal over fears it would damage competition in the fast-growing cloud gaming sector, where games are bought virtually and players can use a variety of devices rather than just consoles.

The layoffs come amidst an unprecedented wave of staff cuts at Big Tech companies that began in late 2022, but have rolled on through early 2024.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



from NDTV News-World-news https://ift.tt/S2bBdgp

Comments

Post a Comment

Popular posts from this blog

Released 2 American Hostages On "Humanitarian Grounds": Hamas

Gaza's ruler Hamas said Friday its armed wing has released two American hostages, from around 200 captives abducted in attacks by the militant group in Israel on October 7. "In response to Qatari efforts, (Ezzedine) al-Qassam Brigades released two American citizens (a mother and her daughter) for humanitarian reasons," Hamas said in a statement posted on Telegram. The Islamist group did not detail how or when the hostages were released. The Israeli military said earlier Friday that most of those abducted to Gaza were still alive. "The majority of the hostages are alive. There were also dead bodies that were taken... to the Gaza Strip," an army statement said. The military said more than 20 hostages were minors, while between 10 and 20 were over the age of 60. There are also between 100 and 200 people considered missing since the Hamas attacks, the army added. On October 7, the Palestinian militant group carried out a deadly assault on Israel, the worst in...
Post a Comment
Read more

Gaza's Rafah Border Crossing Area Hit In Military Strike

The area of the Rafah border crossing between the blockaded Gaza Strip and Egypt was hit Monday in a military strike, AFP correspondents said, as hundreds of Palestinians gathered hoping to cross. The area of the shuttered crossing point in Gaza's south had been hit at least three times last week by Israeli air strikes after Gaza-based Hamas attacked southern Israel on October 7 that triggered all-out war. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) from NDTV News-World-news https://ift.tt/z9CBc7N
Post a Comment
Read more

Sri Lanka Must Achieve Debt Restructuring By September: IMF

The International Monetary Fund on Tuesday reaffirmed that Sri Lanka must achieve its debt restructuring process by September, which is also the time for the global lender's formal review of the bailout facility it extended to the cash-strapped nation. On March 20, IMF extended a nearly $3 billion bailout facility to debt-ridden Sri Lanka that would help stabilise the country's economy after it was jolted by a devastating economic crisis last year. In a statement issued on Tuesday at the end of a nearly two weeks staff visit to Colombo to assess the progress made by Sri Lanka since the agreement was reached, the IMF said the two sides had discussed the developments on debt restructuring. "Sri Lanka must achieve debt restructuring by its first review due in September. We also discussed progress on debt restructuring, noting the ongoing discussions with both foreign and domestic creditors," the statement read. Sri Lanka is still struggling to normalise its crisis-hi...
Post a Comment
Read more