Microsoft has officially canceled the Perfect Dark reboot and Rare's fantasy title Everwild, while also closing The Initiative, the Santa Monica-based studio behind Perfect Dark.

The Microsoft-owned gaming division continues to make deep cuts following its aggressive studio acquisition strategy over the last several years.

Microsoft has confirmed another significant wave of layoffs, affecting approximately 9,100 employees, which accounts for roughly 4 percent of its global workforce. This time, the gaming division is taking the largest hit.