India, July 3 -- In a major development, Microsoft has decided to cancel two of its upcoming video games, including a 'Perfect Dark' reboot and fantasy title Everwild, as part of trimming down the Xbox division. An internal memo to employees from Xbox president of game content and studios, Matt Booty, stated that the company was shutting down The Initiative, the studio behind Perfect Dark game, sources told IGN.

On Wednesday, Microsoft announced its decision to lay off thousands of workers, marking its second mass layoff in months as well as its largest in over two years.

Without mentioning the total number of people who would be laid off, the tech giant has started sending out notices. The layoff heavily impacts Xbox video game busines...