According to an internal employee email from Xbox CEO Asha Sharma obtained by Bloomberg, the company's revenue has declined by "nearly half a billion" dollars during the past five years, while spending over $20 billion.

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Xbox CEO Asha Sharma is planning significant layoffs following Microsoft's fiscal year close on June 30, as part of a company 'reset.' An internal memo revealed that Xbox revenue has declined by nearly $500 million over five years despite $20 billion in content spending. Game Pass saw over eight months of subscriber decline before recently stabilizing. Sharma acknowledged the company became 'over extended' across subscription, streaming, and device strategies, and is now pivoting toward a more curated approach focused on exclusive franchises like Gears of War E-Day and Clockwork Revolution, which will not release on PlayStation 5.

Report: Xbox CEO is Planning Major Layoffs in Company "Reset"