BEHIND XBOX'S BIG LAYOFFS, A STREAMING STRATEGY THAT FAILED

Summary from the TLDR newsletter

Xbox announced on Monday that it would lay off 3,200 employees and let go of five game studios. The company is aiming to reset itself after overspending on studios, staff, and games that people didn't want to play. Xbox plans to take a more streamlined approach to games and studios going forward. It will focus more on franchises like Minecraft, which is considered one of the most successful video games in the world.