The Globe and Mail reports in its Tuesday edition that Microsoft is cutting 4,800 jobs, or about 2.1 per cent of its global work force, overhauling its Xbox gaming business and divesting up to five studios as it looks to boost returns after years of heavy investment in the division. A Reuters dispatch to The Globe says the restructuring of its gaming division will involve 3,200 job cuts, including laying off 1,600 employees on Monday. Despite spending tens of billions of dollars to expand Xbox, including its blockbuster acquisition of Activision Blizzard, Microsoft has struggled to narrow the gap with Sony's PlayStation and Nintendo, prompting a broader rethink of the gaming business. The company has increasingly shifted its strategy toward distributing its games across more platforms rather than relying on console-exclusive titles to drive Xbox hardware sales. The Xbox restructuring will involve divestment of four studios, Xbox's new head, Asha Sharma, said in a note to employees. Big Tech's historic artificial-intelligence outlays, set to top $700-billion (U.S.) this year, are piling pressure on companies to show returns from the technology and offset the rising cost of rolling it out across their businesses.