The Latest Microsoft Layoffs and Ship-Jumping
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Computing UK ☛ Microsoft halts two flagship metaverse ventures, layoffs loom
Microsoft has surprised the tech world with its decision to halt two of its flagship ventures in the metaverse, namely Project Airsim and Project Bonsai.
The move, which is anticipated to impact a significant number of employees, marks an unexpected shift for the tech giant.
Initially intended as a pioneering AI-based aircraft simulation system for industrial applications, Project Airsim was poised to be a cornerstone of Microsoft's vision for the "industrial Metaverse." However, the company's recent announcement conveyed the shutdown of the project, resulting in the unfortunate laying off of the entire team associated with it.
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Xbox's leadership reshuffle isn't just corporate chair-swapping, it could help Bethesda avoid another Redfall [Ed: Way to distract from the CMO of Microsoft jumping ship]
Some of Xbox’s top executives have received shiny new titles to put on their office doors thanks to a bout of reorganisation. Why should you care? Well, the changes could potentially help prevent another game ending up like Redfall.
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Arkansas Democrat-Gazette Inc ☛ Stocks fall amid uncertainty in company forecasts
Wall Street tumbled Thursday, dropping nearly 10% below its high mark for the year, after big-name companies warned an uncertain global economy may hurt their profits.
The S&P 500 fell 1.2% for its ninth drop in 11 days and touched its lowest level in five months. Another steep fall for Big Tech dragged on the market, sending the Nasdaq composite to a market-leading loss of 1.8%, while the Dow Jones Industrial Average sank 251 points, or 0.8%.
Meta Platforms was among the market's heaviest weights and tumbled 3.7% even though the parent company of Facebook and Instagram reported fatter profit and revenue for the summer than analysts expected.
Investors may have been spooked by the company's warning that it's seen some initial softness in advertising due to the latest Israel-Hamas war, and analysts said the company gave a wider range than it has in the past for its forecast of coming revenue.