Microsoft has announced a new program called the Voluntary Exit Offer that it's extending to thousands of workers at the company, including people on the Xbox team. The program is part of a huge shakeup at Microsoft, with 60,000 workers eligible for the offer, which is more than 25% of the company's entire workforce. The Voluntary Exit Offer is not available to everyone, with people working on Microsoft's efforts in data centers, sales, marketing, cyber security, and quantum computing not eligible.
The Voluntary Exit Offer is similar to a severance package, with benefits including ongoing stock vesting and extended health benefits. This is not the first time Microsoft has offered a Voluntary Exit Offer, with a similar program offered in April this year. In that program, about 33% of eligible workers took the deal. The company is undergoing a major transformation under the leadership of CEO Asha Sharma, with Xbox undergoing a "reset" that has included mass layoffs, studio closures, and game cancellations.