Xbox to cut 3,200 jobs, one-fifth of gaming team

Xbox will cut about 3,200 jobs, roughly 20% of its gaming staff, in a reset described by CEO Asha Sharma. About 1,600 positions were cut in July, with 1,600 more planned during the next fiscal year, the 12-month budget period companies use for planning. The cuts are part of wider Microsoft restructuring that planned 4,800 layoffs in July.