tl;dr
Microsoft (NASDAQ:MSFT) is shutting down four videogame studios under its Bethesda banner, some deep cuts set to impact popular titles, IGN reported. The company will shut down Arkane Austin (maker of Redfall), Tango Gameworks (developer of Hi-Fi Rush and The Evil Within), and Alpha Dog Studios (mak...
Microsoft (NASDAQ:MSFT) is shutting down four videogame studios under its Bethesda banner, some deep cuts set to impact popular titles, IGN reported. The company will shut down Arkane Austin (maker of Redfall), Tango Gameworks (developer of Hi-Fi Rush and The Evil Within), and Alpha Dog Studios (maker of Mighty Doom), and its Roundhouse Games will be absorbed into ZeniMax Online Studios, according to the report, citing an email to staff. That news is a follow-on to Microsoft's announcement earlier in the year about cutting some 1,900 from its videogame workforce. "These changes are grounded in prioritizing high-impact titles and further investing in Bethesda’s portfolio of blockbuster games and beloved worlds which you have nurtured over many decades," Xbox Game Studios chief Matt Booty said in the mail, according to IGN. "This reprioritization of titles and resources means a few teams will be realigned to others and that some of our colleagues will be leaving us." Along with the cuts in the Bethesda studios, "a small number of roles across select Bethesda publishing and corporate teams will also be eliminated."
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Its best-known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: TECHNOLOGY
Sector: SERVICES-PREPACKAGED SOFTWARE
Market Cap: 307.35 billion
Current Price: 35.84
Change: 2.93
Change %: 11.54
PE Ratio: 31.83
Dividend Yield: 0.364
Shares Outstanding: 236.58 million
Beta: 438.28
EPS: 0.2
Inst. Ownership: 0.17
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