Microsoft to Lay Off 1,900 Employees

The American software and technology giant Microsoft plans to eliminate 1,900 jobs across various video game sectors, including the newly acquired Activision Blizzard, which was purchased last year for $69 billion. Phil Spencer, head of Microsoft’s gaming division, stated that the number of jobs to be cut represents approximately 8% of the total workforce in the sector, which is around 22,000 employees. Spencer wrote in an email to staff: "Together we prioritize, identify redundant areas, and ensure we are pursuing the best opportunities for growth." This comes as Blizzard Entertainment implements a major restructuring under its layoff plan, having canceled a game called "Odyssey." Microsoft's stock has risen by about 7.7% since the beginning of the year, reaching $404.87 by the close of Thursday's session, with the company's total market value hitting approximately $3 trillion for the first time ever.