07:21 AM EDT, 09/13/2024 (MT Newswires) -- (Updates with an Xbox PR team comment in the third paragraph.)

Microsoft ( MSFT ) is downsizing its Xbox division by cutting 650 jobs as it integrates its $69 billion Activision Blizzard acquisition, Bloomberg reported Thursday, citing a memo sent to staff by Xbox chief Phil Spencer.

The report said the job cuts will mainly affect corporate and support roles, and that no games, devices, or studios are being canceled or closed.

An Xbox PR team representative told MT Newswires that the report about the layoffs is accurate.

(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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