Microsoft lays off 1,900 Activision Blizzard, Xbox staff, says report

Tech giant Microsoft is cutting around 1,900 jobs at Activision Blizzard and Xbox this week, said a report on Thursday.

News website The Verge cited an internal memo from the head of the company's gaming division to report about the lay offs.

The cuts represent around 8% of the overall Microsoft Gaming division, with most of the layoffs set to happen at the recently acquired videogame publisher, Activision Blizzard.

Microsoft's stock market value crossed the $3 trillion milestone for the first time on Wednesday, retaining its place as the world's second most valuable company, just behind iPhone maker Apple.

The layoffs extend beyond a mere reduction in workforce, as prominent figures within Blizzard are also stepping down. Blizzard president, Mike Ybarra, has chosen to depart from the company after having seen it through the acquisition. Ybarra, with over 20 years of experience at Microsoft, played a crucial role in Blizzard's leadership. Blizzard's chief design officer, Allen Adham, is also bidding farewell to the company.