With the global now starting to truly bite, have confirmed that 5,000 jobs will be lost across the group, with the Entertainment & Devices branch one of the areas facing cut-backs.

1,400 jobs will go off the bat, with several of these coming at gaming-linked operations. According to reports, Flight Simulator developers ACES are facing serious job losses, some news indicating that the entire team has been laid-off.

The Gamerscoreblog team have also been axed and there are likely to be cuts in related departments, such as HR, PR, IT, R&D, et al.

More on this depressing news as we get it.

By Luke Guttridge