- On implementing the layoff of 10,000 workers announced last month, Microsoft Corp (NASDAQ:MSFT) reportedly slashed jobs in units including Surface devices, HoloLens mixed reality hardware, and Xbox.
- Microsoft’s downsizing of the HoloLens hardware team raised speculation about whether the company will produce a third iteration of the goggles outside of a planned version for the U.S. Army, Bloomberg reports.
- At the Xbox gaming unit, reductions came in marketing and the Xbox Gaming Ecosystem Group.
- Microsoft said it remained committed to the mixed reality space and the current HoloLens 2 version.
- Microsoft fired 617 workers in the Seattle area.
- In January, the downsizing hit the video-game studio that makes Microsoft’s Halo games and other workers in the mixed reality group, including some of the team working on the version of HoloLens for the U.S. Army.
- The Congress’ rejection of the Army’s request for $400 million to buy up to 6,900 combat goggles cast doubts over the prospects of the HoloLens hardware business’.
- Price Action: MSFT shares traded lower by 1.22% at $260.41 in the premarket on the last check Friday.
Wells Fargo Maintains Overweight on MidCap Financial, Lowers Price Target to $12.5
Wells Fargo analyst Finian O'Shea maintains MidCap Financial (NASDAQ:MFIC) with a Overweight and lowers the price target from $13.5 to $12.5.
