Every day there’s more big job cuts at tech and games companies. I’ve not seen anything explaining why they all seam to be at once like this. Is it coincidence or is there something driving all the job cuts?
It's an easy win for the balance sheet. Their products are still sellable, the services should be more or less unaffected (for the next few quarters), so they'll continue to get the same revenue. But their costs just decreased, so they look more profitable.
It looks good on quarterly calls. It's a good way to juice a stock.