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Microsoft gaming division stock reaction by end of Q3 2024
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Stock price increases • 33%
Stock price decreases • 33%
Stock price remains stable • 34%
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Story
Microsoft Shuts Down Hi-Fi Rush, Redfall Studios Among Others, 1,900 Jobs Cut
May 8, 2024, 03:48 PM
Microsoft has announced the closure of several game studios, including Tango Gameworks, Arkane Austin, Alpha Dog, and Roundhouse Studios, part of Bethesda's four studios, despite their recent successes. These closures are part of a broader cost-cutting move by Microsoft, which also involves consolidating teams and have resulted in 1,900 layoffs. The decision has sparked widespread criticism across the gaming community, particularly because Tango Gameworks had developed the popular game Hi-Fi Rush, and Arkane Austin was behind Redfall. The industry is concerned about the impact on innovation and job security within gaming.
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