Microsoft is cutting 4,800 jobs globally, with Xbox losing up to 20% of its workforce by 2027. Here's what the restructuring means for crypto and Web3

Primarily impacts Xbox, but cloud workers also hit

Microsoft has announced it is cutting 4,800 jobs, including many in its Xbox division. This represents about 2.1% of its global workforce.

Microsoft announced plans to lay off 4,800 employees on Monday, confirming Business Insider's earlier report.

Microsoft eliminated approximately 2.1% of its global workforce