Microsoft has cut 4,800 jobs, which is reportedly about 2% of its global workforce, as part of a broader restructuring effort. The layoffs are said to be related to a shift in investment towards artificial intelligence and a significant overhaul of the Xbox division, with some reports indicating a 20% reduction in staff at Xbox. The move appears to be part of a larger corporate restructuring, with job losses affecting various locations, including over 600 positions in Washington.