MICROSOFT CUTS 4,800 JOBS GLOBALLY, XBOX UNIT FACES LARGEST LOSSES

Microsoft has announced 4,800 job losses across its global workforce. The Xbox gaming unit faces the largest reduction, with a fifth of its staff affected. According to Microsoft, the commercial business division is also experiencing job cuts as part of the restructuring.

The cuts occur as Xbox revenue has been shrinking, according to reporting on the company's performance. Microsoft plans to spin off four gaming studios as part of the broader restructuring of its gaming operations. The job reductions represent a significant contraction of the Xbox division's workforce.

The announcement marks a substantial workforce reduction at the technology company. Microsoft has characterised the changes as a "reset" for the Xbox unit. The company has not disclosed a timeline for completion of all planned job losses or additional details regarding which specific roles will be affected beyond the Xbox division.