Xbox chief says company can't afford to mistake longevity for inevitability

Xbox will cut about 3,200 jobs and offload five studios, including the UK’s Ninja Theory and France’s Arkane, in its biggest-ever restructure.

Microsoft is cutting jobs in its commercial business and its Xbox gaming group, where revenue has been shrinking.

"Our business today is not healthy," Xbox CEO Asha Sharma warned in a memo to staff Monday.

Microsoft eliminated approximately 2.1% of its global workforce

Microsoft said Monday it was eliminating about 4,800 jobs -- roughly two percent of its global workforce -- in a cost-cutting move that will deliver a sweeping restructuring of…