Microsoft is laying off 10,000 employees, nearly 5% of its workforce, in what the tech company calls a “response to macroeconomic conditions and changing customer priorities,” according to a Securities and Exchange Commission filing Wednesday. The workers will be laid off by the conclusion of the third fiscal quarter this year, the company said.
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Microsoft agreed to purchase video game giant Activision Blizzard for almost $70 billion, its largest acquisition in company history, multiple sources reported.
Microsoft announced Tuesday that it agreed to purchase Activision Blizzard in an all-cash deal, further broadening the tech giant’s video game portfolio. Upon completion, the deal w0uld make Microsoft the world’s third-largest gaming company, behind Tencent and Sony.
“Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” Microsoft chairman and chief executive Satya Nadella said in a press release. “We’re investing deeply in world-class content, community and the cloud to usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive and accessible to all.”
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