Microsoft is cutting jobs in its Xbox division, with reports suggesting the number of layoffs could be around 3,200, although one outlet mentions a higher total of 4,800 jobs being cut. The company is also divesting multiple game development studios, with the number of studios being sold reported as either four or five. The layoffs and divestitures are part of a significant overhaul of the Xbox unit, described as one of the most significant restructures in the company's history.