Microsoft Announces 4,800 Job Cuts Globally Amidst Gaming Restructuring

California. American multinational technology company Microsoft has announced job cuts for 4,800 employees worldwide.

This is about 2.1 percent of the company's total workforce. The company has also decided to separate four studios as part of a major restructuring of its gaming business, Xbox. According to the company, 3,200 positions will be cut in the gaming division alone. Of these, 1,600 employees have already been laid off since Monday.