Microsoft is cutting 4,800 jobs (about 2% of its workforce) to revamp its salesforce and execute a massive restructuring of its Xbox gaming division, which the new CEO calls the biggest overhaul in Xbox history[1][5][9]. This layoff wave coincides with the company committing $2.5 billion and 6,000 employees to a new AI implementation unit while spending heavily on AI infrastructure amid a 30% stock slide[3][5].

References:
1. https://www.geekwire.com
2. https://www.technewsworld.com
3. https://www.reuters.com/technology/
4. https://www.nytimes.com/section/technology
5. https://www.cnbc.com/technology/
6. https://www.wired.com
7. https://www.theinformation.com
8. https://finance.yahoo.com/topic/tech/
9. https://apnews.com/technology
10. https://techcrunch.com