Today, Microsoft is laying off 2.1% of its workforce. This equates to 4,800 people that are being let go. The company's XBOX division is cutting about 20% of its entire workforce. All of this is being done in an effort to cut costs due to rising prices and expenses brought about by artificial intelligence (AI).
As a quick reminder: Microsoft plans to spend $190 billion on AI in 2026. In 2025, the company spent $80 billion...