Xbox’s ‘reset’: all the news about Microsoft’s looming layoffs and studio closures

Xbox is making some big changes — again. On June 10th, a few months after Asha Sharma took over as CEO, she and newly promoted chief content officer Matt Booty sent a memo to staff warning of an “Xbox reset.

” The business, they said, is facing significant challenges, including a 3 percent “accountability margin,” massively higher component prices for consoles due to the memory and storage shortage, and an “over extended” studio system.