Microsoft is scrapping two upcoming video games, a reboot of "Perfect Dark" and the fantasy title "Everwild," in addition to ending development on several unannounced projects.

Microsoft is implementing widespread layoffs impacting up to 9,000 employees, significantly affecting its Xbox division. Several studios face closures and game cancellations, including Rare's Everwild and The Initiative's Perfect Dark reboot.

Microsoft is canceling its Perfect Dark and Everwild games as part of sweeping cuts to its Xbox division. Matt Booty, Xbox president of game content and studios, revealed that Microsoft will be closing The Initiative, the studio behind Perfect Dark, in an internal memo to Xbox employees today.