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Microsoft's gaming division announced significant layoffs, impacting its Stockholm-based King division (around 200 jobs) and other European offices. US offices were notified later. CEO Phil Spencer cited the need to prioritize strategic growth areas, resulting in the cancellation of games like Everwild and the closure of The Initiative studio. This marks the fourth round of Xbox job cuts in 18 months, despite the company's strong financial performance and recent acquisition of Activision Blizzard. Microsoft claims these changes are to position for success in a changing market.

Prepared by Christopher Adams and reviewed by editorial team.