- Xbox has laid off 3,200 employees, representing 20% of its workforce, as part of a significant restructuring.
- The layoffs come after nearly $80 billion spent on acquiring popular game titles failed to boost its streaming service.
- Five game studios have also been shut down in an effort to realign Xbox’s business strategy.
Xbox’s Streaming Gamble Ends in Major Layoffs
Xbox announces 3,200 layoffs and the closure of five studios, admitting its streaming strategy has failed despite massive investments.