Microsoft's Xbox unit is laying off 268 employees and consolidating several studios under Activision, including moving the Halo franchise to Activision oversight. The changes represent a major reorganization of Xbox's game development structure.
Bitcoin Suisse announced plans to eliminate up to 60 of its 120 positions in Switzerland and close its Copenhagen development site as part of a strategic reorganization to expand international operations. The crypto financial services firm, founded in Zug in 2013, is shifting operations abroad.
Ethereum development firm Consensys Software Inc. is separating into two independent companies by late 2026. The existing entity will rebrand as MetaMask under Joe Lubin as chairman and CEO, while a new Consensys led by Mike Kriak will house Linea, Besu, and institutional infrastructure businesses.
Ethereum development firm Consensys is separating its consumer-facing MetaMask wallet business from its institutional and infrastructure operations by late 2026, with Joe Lubin serving as chairman and CEO of the MetaMask entity.
German automaker Volkswagen announced plans to cut 100,000 jobs by 2030, adding to 50,000 cuts already agreed, as the company faces pressure from US tariffs and Chinese competition in its biggest restructuring in 89 years.
Volkswagen's supervisory board approved a restructuring plan to eliminate 50,000 positions and end production at four facilities, doubling an existing workforce reduction program. The cuts aim to address challenges including Chinese competition and US tariffs. Shares rose 6% on the news.
Uber Technologies announced it is laying off 3,300 employees, or 10% of its workforce, marking the company's largest job cuts since the pandemic as CEO Dara Khosrowshahi aims to streamline management and simplify team structures.
Payward, the parent company of cryptocurrency exchange Kraken, has acquired the embedded wallet business from Magic Labs, which is simultaneously undergoing a restructuring and rebranding to Newton Labs.
Microsoft announced layoffs of 4,800 employees (2.1% of workforce), with Xbox bearing the brunt at 3,200 jobs (20% of division). The gaming unit will also divest four to five studios as part of a major reorganization.
Coinbase announced it will eliminate approximately 700 positions, representing 14% of its global workforce, as CEO Brian Armstrong restructures the company around AI-driven operations and cost reduction. The move will cost $50-60 million in restructuring charges.
OpenAI disclosed in a new court filing that Elon Musk attempted to reach a settlement just two days before their trial commenced last week, as testimony from Musk and OpenAI co-founder Greg Brockman produced contentious exchanges over the company's restructuring.
Meta is preparing to cut approximately 8,000 jobs on May 20, with a second wave planned later in 2026, potentially eliminating over 20% of its workforce. The cuts are aimed at offsetting massive AI infrastructure spending as the company shifts resources from headcount to compute.
