Engadget Podcast: Xbox resets with layoffs

Microsoft made its Xbox layoffs official this week, and they're absolutely brutal. The company plans to lay off 3,200 employees, or 20 percent of its workforce, over the next year. This week, 1,600 were immediately let go. To help us understand Xbox's strategy (if there's any), we chatted with Mike Futter, co-host of the Virtual Economy Podcast and Director of Ops and Publishing at Causeway Studios. Once again, we chart Xbox's sad decline to the inauspicious debut of the Xbox One in 2013.