[Update: 18,000 Laid Off] Microsoft to Reportedly Lay Off Thousands, Will Include Xbox Marketing Division

[Update]: Microsoft confirmed the layoffs today with 18,000 jobs planned for elimination over the next year. Specifically, the bulk of those job cuts come from the Nokia division with 12,500 employees losing their positions. We hope everyone affected finds new work soon.

[Original]: Microsoft is planning to lay off thousands of its employees in what could very well be the largest round of layoffs in the company's history, Bloomberg has reported.

According to the outlet, reliable sources, or "people with knowledge of the company's plans," have revealed that the Nokia, marketing, and engineering divisions will be hit the hardest, with the global Xbox team likely feeling the effects as well. 

The layoffs could occur "as soon as this week," so stay tuned to GameRevolution for future updates on the future of Microsoft. A whole lot has been changing over at the Xbox manufacturer; let's just hope it is ultimately for the best.