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The sweeping layoffs equate to roughly 2.1% of Microsoft's workforce, with 1,600 job losses at Xbox.

Tencent is reviewing its stakes in Japanese game studios, including Marvelous Inc., as it pivots toward AI-driven growth and co-produced, user-generated gaming strategies.

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The Chinese game-publishing giant is evaluating its minority holdings in many studios. Read more at straitstimes.com. Read more at straitstimes.com.