Microsoft cuts 4,800 jobs across sales and Xbox. Read the memo.

Microsoft announced the layoff of 4,800 employees, approximately 2% of its global workforce, impacting sales and Xbox. The company is executing a massive Xbox overhaul, which the gaming CEO describes as the biggest restructuring in Xbox history. Simultaneously, Microsoft is reshaping its sales and consulting division. These moves follow record AI spending and a 30% stock slide, as confirmed by a company memo and reports previously detailed by Business Insider regarding the workforce reductions.