business

7/2/25

Report: Microsoft plans to cut 9,000 jobs

Microsoft plans to kick off its new fiscal year by laying off 9,000 workers, according to a report from CNBC. The report said that the cuts will be spread across multiple regions, teams, and experience levels.

It appears that the company’s Xbox division will be hit hard by the layoffs. Bloomberg reports that Microsoft started informing workers Wednesday morning, and its “Candy Crush” studio, King, will be cutting about 200 jobs, or 10% of the Stockholm-based company.

The layoffs were expected by managers and mark the fourth round of cuts since January 2024. Microsoft executives have been pushing the Xbox division, which continues to face stiff competition and high R&D costs, to improve profit margins.

Shares were down slightly in early trading.

Microsoft laying off about 9,000 employees in latest round of cuts

Microsoft laying off about 9,000 employees in latest round of cuts

The layoffs were expected by managers and mark the fourth round of cuts since January 2024. Microsoft executives have been pushing the Xbox division, which continues to face stiff competition and high R&D costs, to improve profit margins.

Shares were down slightly in early trading.

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14h

Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

14h

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

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