Xbox suffers major layoffs and game cancellations
Microsoft is letting go of about 9,000 people—roughly 4% of its workforce—in its latest round of job cuts.
This marks the fourth time in just 18 months, with layoffs affecting teams worldwide, even though the company's profits and gaming audience are still growing.
Gaming projects impacted by layoffs
The Initiative studio's closure means the end for the Perfect Dark reboot, while Rare's Everwild project is also canceled.
Turn 10 Studios, behind Forza Motorsport, lost more than 70 jobs.
Xbox has more players and games than ever before
Even with all these changes, Xbox has more players and games than ever before.
Microsoft just posted a $25.8 billion profit last quarter (up 18% from last year), and their stock price has nearly tripled in five years—a reminder that business can be booming even during tough times for employees.