Microsoft announces new layoffs on the same day its purchase of Activision Blizzard is approved
This is the second workforce reduction in six months. Courts approved Microsoft’s acquisition of the video game company for $68.7 billion.
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Microsoft announced a new wave of layoffs six months after undertaking a separate workforce reduction of 10,000 jobs. The news comes just days after the tech giant closed its fiscal year, in which it reported 221,000 employees worldwide. This is the latest round of layoffs in the ongoing tech industry crisis.
What has not yet been specified is the number of people who will soon be out of work. A Microsoft spokesperson said this decision is part of the company's ongoing business strategy, FOX Business reported:
Courts approve Microsoft’s purchase of Activision Blizzard
This news comes on the same day that U.S. courts authorized Microsoft to close the purchase of the video game company Activision Blizzard for $68.7 billion ($95 per share). This decision comes despite the Federal Trade Commission’s (FTC) opposition to this acquisition.
"For the foregoing reasons, the Court finds that the FTC has not demonstrated a likelihood that its allegation that this particular vertical merger in this specific industry would substantially lessen competition prevails," said the U.S. District Court judge for the Northern District of California Jacqueline Scott Corley.
Following the purchase approval, the video game company's shares have soared more than 10% in the stock market.
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