01:46 PM EDT, 07/02/2025 (MT Newswires) -- (Updates with Microsoft ( MSFT ) comment in the last paragraph.)

Microsoft ( MSFT ) has begun implementing job cuts at its Xbox gaming division, which staff had been expecting for the past week, Bloomberg reported Wednesday.

The company's Barcelona-based King division is reducing its workforce by 10%, or around 200 jobs, and other European offices have also begun informing staff about the layoffs, the report said.

US units are expected to be informed later Wednesday on how many jobs will be cut, the report said.

"We continue to implement organizational and workforce changes that are necessary to position the company and teams for success in a dynamic marketplace," a Microsoft ( MSFT ) spokesperson said in an emailed statement to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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