Key TakeawaysMicrosoft reportedly will lay off 650 Xbox employees, according to a memo from division chief Phil Spencer seen by Bloomberg, the company's third round of unit cuts since closing its $69 billion acquisition of Activision Blizzard last October.The cuts will affect "mostly corporate and supporting functions," rather than game development.Microsoft previously laid off 1,900 Xbox employees in January and closed multiple Bethesda studios in May. Microsoft (MSFT) reportedly is laying off 650 employee ...