MS shuts down some companies

[A Black Falcon]

Yeah, it is most of the industry doing cuts right now, no question.  Development times have just gotten too long and expensive, it's just ridiculous how many years finishing a single game takes now...

On a related note, Nintendo said recently that they've noticed dev times getting longer as well.  They aren't firing people and are doing well at the moment, but they certainly know dev times are getting longer.  See Zelda, the last one took six years to release a game which reused a lot of assets...