Xbox reportedly plans July layoffs after 3% margin warning (opens in new tab)

Microsoft’s Xbox division is reportedly preparing major layoffs in July, shortly after Microsoft’s fiscal year closes on June 30. Marketing and other budgets are also expected to be cut, though the number of affected employees has not been disclosed. Xbox CEO Asha Sharma and chief content officer Matt Booty did not announce layoffs in a public staff memo titled “Next 100 Days: Xbox Reset,” but said the division must make hard choices after Sharma’s first 100 days leading Xbox. Sharma and Boot...