"Microsoft Lays Off 1,900 Activision Blizzard, Xbox Staff; Cuts Represent Around 8% Of The Overall Microsoft Gaming Division" - Reuters News

1/25/24 10:18:17 AM ET

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Computer Software: Prepackaged Software

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Computer Software: Prepackaged Software

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Microsoft (MSFT.O), opens new tab is cutting around 1,900 jobs at Activision Blizzard and Xbox this week, news website The Verge reported on Thursday, citing an internal memo from the head of the company's gaming division.

The cuts represent around 8% of the overall Microsoft Gaming division, with most of the layoffs set to happen at recently acquired videogame publisher Activision Blizzard.

Microsoft did not immediately respond to a Reuters request for comment.

The news follows job cuts at several other big firms including Alphabet, eBay and Amazon.com, which have signaled that the widespread pruning seen across the tech industry last year will continue in 2024.

Microsoft closed its $69 billion deal for Activision Blizzard in October, boosting its heft in the videogaming market with best-selling titles including "Call of Duty" to better compete with industry leader Sony.

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Company	Date	Price Target	Rating	Analyst
Microsoft Corporation $MSFT	10/31/2024	$500.00 → $495.00	Outperform	BMO Capital Markets
Microsoft Corporation $MSFT	10/10/2024	$515.00 → $500.00	Buy	Goldman
Microsoft Corporation $MSFT	10/8/2024		Outperform → Perform	Oppenheimer
Microsoft Corporation $MSFT	9/23/2024	$475.00	Buy → Neutral	DA Davidson
Microsoft Corporation $MSFT	6/10/2024	$570.00	Buy	New Street
Microsoft Corporation $MSFT	6/7/2024	$450.00 → $500.00	Outperform	Oppenheimer
Microsoft Corporation $MSFT	4/17/2024	$460.00 → $480.00	Overweight	Wells Fargo
Microsoft Corporation $MSFT	4/12/2024	$455.00 → $465.00	Outperform	BMO Capital Markets

"Microsoft Lays Off 1,900 Activision Blizzard, Xbox Staff; Cuts Represent Around 8% Of The Overall Microsoft Gaming Division" - Reuters News

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