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Pathikrit Bose

Xbox Is the Biggest Casualty in a New Round of Microsoft Layoffs. What This Means for MSFT Stock.

X Xbox Microsoft Asha Sharma AMD Sony

Software giant Microsoft (MSFT) will be letting go of thousands of employees yet again. This time, the number is set to be 4,800, or 2% of its global workforce, with about two-thirds expected to be from its gaming and entertainment division, Xbox.

Newly installed Xbox CEO Asha Sharma has cited lower gross margins than competitors, stating in an internal memo to employees that the console maker was “losing 64 cents for every dollar invested.”

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