Microsoft is cutting another 650 positions at Xbox Gaming

Microsoft The stock ( MSFT ) fell slightly in Thursday’s session after a leaked internal memo revealed the tech giant’s decision to cut about 650 roles at its Xbox gaming division.

“As part of aligning our post-acquisition team structure and managing our business, we have made the decision to eliminate approximately 650 roles in Microsoft Gaming – primarily corporate and support functions – to set up our business for long-term success” , said the CEO of Microsoft Gaming. Phil Spencer in a memo obtained by CNBC. “With these changes, our corporate and support teams and resources are aligned for sustainable growth going forward and can better support our studio teams and business units with programs and resources that can scale to meet their needs.”