Microsoft shifts Obsidian to new Fallout game amid Xbox job cuts

Microsoft is redirecting Obsidian Entertainment to develop a new Fallout title as part of its Xbox restructuring, following Monday’s announcement of 3,200 job cuts and divestiture of five studios. The move comes after the company reported average losses of 64 cents per dollar invested in smaller acquisitions and gaming revenue falling 7.5% to $21.7 billion. Shares closed at $383.03, down 1.49% with a $2.89 trillion market cap, showing limited immediate market reaction to the latest development.