WS #11544
Microsoft announced layoffs of ~4,800 roles (2.1% of workforce), with Xbox cutting 3,200 positions in its largest restructuring, citing AI-driven changes and unhealthy margins. Chip stocks rally led by AMD, Western Digital, and Teradyne; Goldman Sachs raises AMD price target to $640 from $450, signaling renewed AI optimism.
Microsoft lays off 4,800 employees, Xbox hit hardest
Microsoft announced layoffs of ~4,800 roles (2.1% of workforce), with Xbox cutting 3,200 positions in its largest restructuring, citing AI-driven changes and unhealthy margins.
Chip stocks rally led by AMD, Western Digital, and Teradyne; Goldman Sachs raises AMD price target to $640 from $450, signaling renewed AI optimism.