Microsoft’s Xbox CEO Asha Sharma shared a long post that she had sent to her staff, announcing widespread layoffs and an ambitious plan to “reset” the gaming division.

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

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.

"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

Gaming unit under pressure from weak margins and the industry’s sharp hardware downturn