Microsoft may announce layoffs in Xbox division later today

Microsoft is reportedly planning to cut jobs in its Xbox division. Citing sources familiar with the company’s plans, The Verge reports that the company may lay off hundreds of employees later today. First reported by The Information, the layoffs will be the company’s second major staff reduction this year. Microsoft Xbox is also planning to consolidate many of its game studios, the report said. Earlier this year in July, Xbox CEO Asha Sharma told staff she would eliminate 1,600 roles by the end of the year on top of 1,600 roles the company cut that month. At that time, Xbox also sold four of its game studio subsidiaries.The layoffs and restructuring come as Sharma tries to improve profits at the gaming business, which has been behind some of its rivals.