Microsoft is eliminating 268 Xbox positions as it advances a restructuring plan that includes transferring development of the next Halo game to a newly established team under Activision. Halo Studio, formerly known as 343 Industries, is being reduced to a small organization focused on maintaining live services. The move follows a July plan to cut about 3,200 roles, or roughly 20% of Xbox's workforce over the following year. Xbox's Chief Content Officer (CCO) Matt Booty said about 75% of the overall layoff plan has been completed. Xbox's Chief Executive Officer (CEO) Asha Sharma said in an employee email that the business was not healthy and that its profitability was 3 to 10 times lower than comparable companies. The restructuring will also place Rare and World's Edge under Activision, move King into Microsoft Casual Games and combine the development teams behind Forza and Fable. The changes are part of a broader effort to simplify Xbox's organization and improve financial performance.