WS #11569
Microsoft announced 4,800 job cuts (2.1% of workforce), with 3,200 in Xbox, as part of a restructuring to focus on AI and improve margins. The Dow Jones Industrial Average closed above 53,000 for the first time, led by a semiconductor rebound and Broadcom's extended Apple deal. Samsung Electronics projected record Q2 operating profit of $58.4 billion, up 1,810% YoY, driven by strong memory chip demand.
Microsoft layoffs and Xbox restructuring
Microsoft announced 4,800 job cuts (2.1% of workforce), with 3,200 in Xbox, as part of a restructuring to focus on AI and improve margins.
The Dow Jones Industrial Average closed above 53,000 for the first time, led by a semiconductor rebound and Broadcom's extended Apple deal.
Samsung Electronics projected record Q2 operating profit of $58.4 billion, up 1,810% YoY, driven by strong memory chip demand.