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The announcement came a day after hosting a Sting live performance for 50 individuals, including Microsoft executives, in Davos, Switzerland. In January 2023, CEO Satya Nadella announced Microsoft would lay off 10,000 workers. Microsoft additionally named Phil Spencer, head of the Xbox model since 2014, the inaugural CEO of the newly established Microsoft Gaming division, which now houses the Xbox operations staff and the three publishers within the firm’s portfolio (Xbox Sport Studios, ZeniMax Media, Activision Blizzard).