Microsoft is planning major layoffs in its Xbox gaming business as early as next week after its fiscal year ends on June 30. The cuts mark the fourth big round in 18 months as the division faces pressure to improve margins following the $69 billion Activision Blizzard acquisition.

The layoffs come shortly after new Xbox CEO Asha Sharma admitted the business "isn't particularly healthy."
Sharma emphasized that annual revenue had declined nearly half a billion over the last five years despite more than $20 million in investment.
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