Xbox has been busy. Since the turn of the year, the company has announced 1,900 layoffs across its gaming divisions, including its recently-merged Activision Blizzard business, and detailed a multi-platform push that will eventually bring Xbox Game Studios titles to players beyond its own ecosystem.

When announcing those job cuts internally, Xbox boss Phil Spencer said the company needed to marry a "strategy and an execution plan with a sustainable cost structure" to enable future growth, while also eliminating "overlap" following its purchase of Activision Blizzard.

The suggestion was that Xbox needed to downsize in order to level up. Spencer has now doubled down on that …