Huge New Layoffs Hit Microsoft’s (NASDAQ:MSFT) Xbox Division | Gaming

Normally, big layoffs are good news for a company, but not today and not for tech giant Microsoft (MSFT). With Microsoft poised to lay off 650 people from the Xbox unit, the huge cost-cutting measure still was not enough to keep it from a fractional loss in Thursday afternoon’s trading.

This is actually the third time, noted a CNBC report, that Microsoft has gone winnowing out “redundancies” in its Xbox unit following the acquisition of Activision-Blizzard. Most of these roles, the report noted, are “corporate and supporting functions.”

Meanwhile, a memo direct from Microsoft Gaming CEO Phil Spencer stated that this was a “difficult” decision, and reminded all concerned that “we are deeply grateful for the contributions of our colleagues who are learning they are…