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Microsoft to cut 650 jobs at its Xbox gaming unit
Microsoft said Thursday that it is cutting 650 roles at its Xbox gaming division, in the latest major round of layoffs to hit the video game industry.
Phil Spencer, executive vice president at Microsoft, speaks at the company's Xbox One X reveal event ahead of the E3 Electronic Entertainment Expo in Los Angeles on June 11, 2017. It marks the third series of redundancies in Microsoft's video game unit since the company's blockbuster acquisition of Activision Blizzard, the publisher behind the Call of Duty franchise, for $69 billion in cash. In a memo obtained by CNBC, Phil Spencer, CEO of Microsoft Gaming, told employees that the firm had taken this "difficult" decision to align its post-acquisition team structure and "organize our business for long term success."
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