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What will be the impact on Microsoft's stock price following the layoffs announcement by September 30, 2024?
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Microsoft's stock price on credible financial platforms like Bloomberg or Yahoo Finance
Story
Microsoft to Cut 650 Jobs, 3% of Xbox Workforce
Sep 12, 2024, 11:20 AM
Microsoft announced it will cut 650 jobs, or 3% of its global workforce, in its gaming division, impacting primarily corporate and support roles at Activision Blizzard. This marks the third round of layoffs this year for the tech giant, following the completion of its $69 billion acquisition of Activision Blizzard. Xbox chief Phil Spencer communicated the layoffs to employees via an internal memo. Despite the job cuts, no games or studios will be affected. The latest cuts come months after Microsoft laid off 1,900 Activision Blizzard and Xbox employees.
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