Microsoft's Xbox cuts 1,600 employees, with plans to shed 20% of its workforce this year

Source: Business Insider

Xbox CEO Asha SharmaBloomberg/Getty ImagesMicrosoft's Xbox plans to cut 3,200 employees, or about 20% of its workforce, this fiscal year. Microsoft announced plans to lay off around 4,800 employees on Monday. Of those, 1,600 come from Xbox layoffs and studio spinouts.