Microsoft to cut 650 support jobs in Xbox Games unit, Bloomberg News reports

FILE PHOTO: A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 25, 2024. REUTERS/Gonzalo Fuentes/File Photo

(Reuters) -Microsoft said it is cutting 650 jobs in its Xbox unit, the third such layoff this year as the company tries to rein in costs and integrate its $69 billion acquisition of Activision Blizzard, Bloomberg News reported on Thursday.

The gaming industry saw mass layoffs, studio shutdowns and project cancellations in the first half of the year, triggered by a slow recovery in spending by gamers after player engagement rates peaked during the pandemic.