Xbox CEO Asha Sharma calls it the most significant restructuring in Xbox history: 3,200 job cuts, four studio spinoffs, a new COO, and a flattened management structure — all aimed at turning around a division she says has been losing 64 cents on every dollar invested in its studios.

Microsoft's XBOX is undergoing a major restructuring, resulting in the departure of several studios, including Ninja Theory, Compulsion Games, Undead Labs, and Double Fine. While no game cancellations are planned,

Xbox CEO Asha Sharma said Microsoft’s video game business is in desperate need of a “reset,” which apparently means job cuts and the shedding of several game studios. Sharma announced in a memo to staff,

As Xbox cuts ties with Ninja Theory, Compulsion, and Double Fine, Undead Labs' case is the worst but not the only case of mismanagement

The Microsoft layoffs are set to affect 4,800 jobs, with 3,200 in Xbox. Four studios are on their way out intact, with a fifth under review.

The huge layoffs across multiple studios has Xbox trying to "reset" their entire business model, but there approach will have lasting impact.

Raphael Colantonio is now head of WolfEye Studios

First Light developer IO Interactive has confirmed that it is closing its Istanbul office, laying off staff in the process as part of cuts that the studio said were “necessary” to help the company stay afloat in the future.

As the list of alleged Xbox studio cuts keeps on growing, Fallout New Vegas developer Obsidian is potentially on the chopping block.