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Business News

Microsoft Announces Another Wave of Layoffs

Microsoft has confirmed it will lay off up to 9,100 employees ,about 4% of its workforce, as part of yet another round of cuts this year, with its Xbox division, Microsoft Gaming, taking a significant hit. The layoffs impact teams across the company, including King, the Candy Crush maker (now owned by Microsoft), which is letting go of 200 employees, and European units like Zenimax. This follows a difficult year of ongoing job cuts, including over 6,000 layoffs earlier this year, and previous rounds that affected Activision Blizzard, Xbox, and HoloLens teams. In a memo to staff, Xbox chief Phil Spencer emphasized the need to focus on high-impact areas and streamline management layers to position the division for long-term success. While Spencer acknowledged the strength of Xbox’s current momentum, he noted that staying ahead requires tough decisions. Affected employees will receive severance, healthcare support, and priority for open roles within Microsoft Gaming. Despite the difficult moment, Spencer expressed deep appreciation for the contributions of every team member impacted.

Paramount Shareholders Approve Board Amid Legal Settlement and Merger Talks

At Paramount Global’s annual shareholder meeting, all seven board nominees,including three newcomers,were elected, despite proxy advisor ISS recommending votes against four existing directors, including chair Shari Redstone, due to concerns over the company’s capital structure. However, the Redstone family’s controlling 77% stake ensured their preferred outcome. The meeting came just after Paramount reached a $16 million settlement in principle to resolve a $20 billion lawsuit filed by former President Donald Trump over alleged media bias during a “60 Minutes” segment. The funds will be allocated to a future presidential library and legal fees. As part of the agreement, Paramount will begin releasing transcripts of presidential candidate interviews post-airing. Co-CEO George Cheeks said the decision to settle was aimed at avoiding unpredictable legal costs and reputational risk. Meanwhile, the company awaits FCC approval for its proposed $8.4 billion merger with Skydance Media. Shareholders also approved plans to expand share availability and amend director equity plans, while rejecting a proposal related to viewpoint discrimination in employment.

What We’re Reading

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Tip of the Day

Clarify Before You Scale

Don’t pour gas on a fire you can’t control. Make sure your offer, messaging, and delivery systems are dialed in before chasing more traffic or hiring aggressively.