Xbox CEO Asha Sharma Joins Federal Reserve's Tech Task Force

WHO:

Techmeme - Marc Andreessen will co-lead the task force on the economic impact of new technologies, including AI, alongside Xbox CEO Asha Sharma.

Game Informer - Asha Sharma was previously president of Microsoft's CoreAI before becoming CEO of Xbox.

Game Informer - Asha Sharma is the only active CEO among the entire list of advisors for the Federal Reserve's task forces.

Game Informer - Asha Sharma is the CEO of Xbox.

Game Informer - Kevin Warsh is the chairman of the U.S. Federal Reserve.

Techmeme - Marc Andreessen is a billionaire investor and will co-lead the task force.

WHAT:

GamesIndustry.biz - Xbox plans to eliminate 3,200 positions by the end of 2027, which is an increase from the previously reported layoffs of over 3,000.

GamesIndustry.biz - Asha Sharma stated, "These changes are about a bigger future for Xbox, not a smaller one," regarding the layoffs and restructuring.

GamesIndustry.biz - Asha Sharma stated, "The next decade of gaming will be larger, more global, and more creative than anything we've seen before," regarding the future of Xbox.

GamesIndustry.biz - Xbox has divested from five development studios: Compulsion Games, Double Fine Productions, Ninja Theory, Undead Labs, and Arkane Studios.

GamesIndustry.biz - Xbox plans to eliminate 3,200 positions by the end of 2027, which is an increase from the previously reported layoffs of over 3,000.

GamesIndustry.biz - Asha Sharma stated, "These changes are about a bigger future for Xbox, not a smaller one," regarding the layoffs and restructuring.

GamesIndustry.biz - Asha Sharma stated, "The next decade of gaming will be larger, more global, and more creative than anything we've seen before," regarding the future of Xbox.

GamesIndustry.biz - Xbox plans to eliminate 3,200 positions by the end of 2027, which is an increase from the previously reported layoffs of over 3,000.

GamesIndustry.biz - Asha Sharma stated, "This year, we'll invest as much in Xbox as we ever have, but we'll invest with greater focus, greater discipline, and greater clarity, all in service of making Xbox where the world plays and creates," regarding future investments in Xbox.

GamesIndustry.biz - Xbox plans to eliminate 3,200 positions by the end of 2027, which is an increase from the previously reported layoffs of over 3,000.

GamesIndustry.biz - Asha Sharma stated, "The next decade of gaming will be larger, more global, and more creative than anything we've seen before," regarding the future of Xbox.

GamesIndustry.biz - Asha Sharma will co-lead the Productivity and Jobs task force alongside Marc Andreessen and Charles I. Jones, who is currently on leave at AI firm Anthropic.

GamesIndustry.biz - The task force aims to assess the economic impact of new general-purpose technologies, including artificial intelligence, to inform the Federal Reserve's policy judgments.

GamesIndustry.biz - Xbox plans to eliminate 3,200 positions by the end of 2027, affecting studios including ZeniMax Online Studios, Id Software, Bethesda Game Studios, and Obsidian.

GamesIndustry.biz - Asha Sharma stated, "These changes are about a bigger future for Xbox, not a smaller one," regarding the layoffs and restructuring.

Game Informer - The Federal Reserve has announced five task forces: Communications, Balance Sheet Policy, Data, Productivity and Jobs, and Inflation Frameworks.

Game Informer - Asha Sharma has been named as one of three advisors for the Productivity and Jobs task force of the Federal Reserve.

Game Informer - The Productivity and Jobs task force aims to assess the economic impact of new general-purpose technologies, including artificial intelligence.

Game Informer - Xbox is undergoing a massive restructuring that will result in over 3,000 layoffs across each game division.

Game Informer - Xbox has divested from five development studios: Compulsion Games, Double Fine Productions, Ninja Theory, Undead Labs, and Arkane Studios.

WHERE:

Game Informer - The task force is part of the U.S. Federal Reserve.

WHEN:

Game Informer - Asha Sharma was appointed Xbox CEO in February.

Game Informer - The restructuring of Xbox began this week.

WHY:

Game Informer - Chairman Kevin Warsh stated, "The Federal Reserve's commitment to price stability and maximum employment is unwavering. As is our resolve to pursue our mandate with rigor," regarding the task forces.

Game Informer - Chairman Kevin Warsh stated, "The U.S. economy has changed significantly over the last generation, and never more so than right now," regarding the need for the task forces.

Game Informer - The Federal Reserve's goal is to ensure it is best positioned to achieve its objectives in a consequential time, as stated by Chairman Kevin Warsh.

HOW:

GamesIndustry.biz - Asha Sharma has implemented key leadership changes, discontinued Gaming Copilot, reduced the price of Game Pass, and rebranded Microsoft Gaming as Xbox since taking the role of CEO.

Fox News - Asha Sharma was appointed to a Federal Reserve task force on productivity and jobs just days after Xbox announced 1,600 layoffs amid H-1B visa scrutiny.

GamesIndustry.biz - Since taking the role of CEO, Asha Sharma has implemented key leadership changes, discontinued Gaming Copilot, reduced the price of Game Pass, and rebranded Microsoft Gaming as Xbox.

GamesIndustry.biz - Sharma has implemented key leadership changes, discontinued Gaming Copilot, reduced the price of Game Pass, and rebranded Microsoft Gaming as Xbox since taking the role of CEO.

ABC News Business - The Federal Reserve has released a slate of names, including venture capitalist Marc Andreessen, economist Raj Chetty, and former Bank of England governor Mervyn King, to help develop recommended changes to the central bank’s operations.

Game Informer - Each task force will be co-led by external advisors "with deep expertise in their fields."

Game Informer - The task forces will be co-led by external advisors with deep expertise in their fields.

(UPDATED July 10, 2026 22:21 UTC)

Xbox is set to cut 3,200 positions by the end of 2027, an increase from the previously reported layoffs of over 3,000. CEO Asha Sharma emphasized that these changes are aimed at creating a bigger future for Xbox, stating that the next decade of gaming will be larger, more global, and more creative than anything we've seen before. Alongside these layoffs, Xbox has divested from five development studios and implemented key leadership changes, including the discontinuation of Gaming Copilot and a reduction in the price of Game Pass.

(UPDATED July 10, 2026 20:21 UTC)

Xbox is set to eliminate 3,200 positions by the end of 2027, an increase from the previously reported layoffs of over 3,000. Asha Sharma emphasized that these changes are aimed at creating a bigger future for Xbox, stating that the next decade of gaming will be larger, more global, and more creative than anything we've seen before. Just days after announcing 1,600 layoffs amid H-1B visa scrutiny, Sharma was appointed to a Federal Reserve task force focused on productivity and jobs.

(UPDATED July 10, 2026 19:22 UTC)

Xbox is set to eliminate 3,200 positions by the end of 2027, an increase from the previously reported layoffs of over 3,000. Asha Sharma emphasized that this year, the company will invest more in Xbox than ever before, but with a sharper focus and greater clarity to enhance its position as the platform where the world plays and creates. Just days after announcing 1,600 layoffs amid H-1B visa scrutiny, Sharma was appointed to a Federal Reserve task force on productivity and jobs.

(UPDATED July 10, 2026 17:32 UTC)

Xbox is set to eliminate 3,200 positions by the end of 2027, an increase from the previously reported layoffs of over 3,000. Asha Sharma, the new CEO, has made significant leadership changes, discontinued Gaming Copilot, reduced the price of Game Pass, and rebranded Microsoft Gaming as Xbox. Looking ahead, Sharma believes that "the next decade of gaming will be larger, more global, and more creative than anything we've seen before."

(UPDATED July 10, 2026 16:43 UTC)

Asha Sharma has been appointed to co-lead the Productivity and Jobs task force, which will work alongside Marc Andreessen and Charles I. Jones to evaluate the economic impact of emerging technologies like artificial intelligence for the Federal Reserve. In a significant move, Xbox plans to cut 3,200 positions by the end of 2027, affecting several studios, but Sharma emphasized that these changes are aimed at creating a bigger future for Xbox, not a smaller one. Since taking on the role of CEO, Sharma has made notable leadership changes, discontinued Gaming Copilot, reduced Game Pass prices, and rebranded Microsoft Gaming as Xbox.

(UPDATED July 10, 2026 08:07 UTC)

Marc Andreessen will co-lead a new task force on the economic impact of emerging technologies, including AI, alongside Xbox CEO Asha Sharma. The Federal Reserve's Chairman Kevin Warsh emphasized the bank's unwavering commitment to price stability and maximum employment as they pursue this initiative. Along with Andreessen, the task force will include notable figures such as economist Raj Chetty and former Bank of England governor Mervyn King, who will help recommend changes to the central bank’s operations.

(UPDATED July 10, 2026 02:51 UTC)

In a significant development, the Federal Reserve has announced the formation of five task forces focused on Communications, Balance Sheet Policy, Data, Productivity and Jobs, and Inflation Frameworks, with Asha Sharma, the CEO of Xbox and the only active CEO among the advisors, playing a key role. Chairman Kevin Warsh emphasized the necessity of these task forces by stating that the U.S. economy has changed significantly over the last generation, especially in the current climate. Each task force will be co-led by external advisors who possess deep expertise in their respective fields.

(UPDATED July 10, 2026 01:28 UTC)

Asha Sharma, the CEO of Xbox, has been appointed as one of three advisors for the Productivity and Jobs task force of the U.S. Federal Reserve, which aims to evaluate the economic impact of emerging technologies like artificial intelligence. This week, Xbox is undergoing a significant restructuring that will lead to over 3,000 layoffs and has resulted in the divestment from five development studios, including Compulsion Games and Double Fine Productions. The task force will be co-led by billionaire investor Marc Andreessen, as Chairman Kevin Warsh emphasizes the Federal Reserve's commitment to being well-positioned during this critical period.