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Zelda Ocarina of Time Remake, Xbox Layoffs, FF7 Revelation

Jun 5, 2026 — Jun 12, 2026 · 1mo ago

The gaming industry experienced a week of extreme highs and sobering lows as blockbuster summer showcases collided with harsh corporate realities. While Nintendo and Square Enix thrilled fans with massive game reveals, Microsoft and Ubisoft announced sweeping restructurings that signal a turbulent road ahead for hardware and studio stability.

Xbox Announces July Layoffs and Shifting PS5 Release Strategy

Report: Xbox Set For Major Job Cuts, Studio Closure Or 'Lineup Changes' Could Be Involved"We have found ourselves over extended", new Xbox CEO says amid reports of plans for major job cutsPure XboxRock Paper Shotgun

Microsoft is preparing for a major "business reset" that is expected to result in significant layoffs in July 2026, shortly after the close of its fiscal year Pure XboxEurogamerPure Xbox. Xbox CEO Asha Sharma and Xbox Game Studios head Matt Booty issued an internal memo outlining five realities the division must address, admitting the brand's financial health is currently "not particularly healthy" Rock Paper ShotgunPush Square. This restructuring follows a massive subscriber loss for Xbox Game Pass, which shed millions of users after raising its Ultimate tier price to $29.99 per month Pure XboxThis Week in Video Games.

To stabilize the business, Microsoft is pivoting its console exclusivity strategy to a case-by-case basis, bringing major legacy franchises to competing platforms EurogamerPure Xbox. While Gears of War: E-Day and Clockwork Revolution remain permanent Xbox exclusives, the highly anticipated Halo: Campaign Evolved remake and Playground Games' Fable reboot are officially confirmed for the PlayStation 5 Pure XboxPure XboxEurogamer. Meanwhile, Sharma warned of an industry-wide hardware crisis driven by soaring RAM and storage costs, hinting that Microsoft is exploring cheaper console alternatives to keep gaming accessible EurogamerPure Xbox.

Zelda Ocarina of Time Remake and Xenoblade Genesis Lead Nintendo Switch 2 Lineup

The Legend of Zelda: Ocarina of Time's rumoured Switch 2 remake is real, but all we're getting is a teaser for nowA brand new Xenoblade game, Xenoblade Genesis, is coming next yearEurogamerVGC

Nintendo dominated the summer showcase cycle with a massive Nintendo Direct focused on its newly launched Nintendo Switch 2 console. The publisher officially announced a high-fidelity, realistic remake of the Nintendo 64 classic The Legend of Zelda: Ocarina of Time, scheduled to launch on the platform later this year EurogamerNintendo Life. Monolith Soft also unveiled Xenoblade Genesis, a brand-new entry slated for 2027, alongside upgraded Switch 2 Editions of the original trilogy featuring 4K resolution and 60fps performance VGCNintendo Life.

Third-party support for the portable console is also ramping up, highlighted by the long-awaited gameplay reveal of Kingdom Hearts 4 PC Gamer. Square Enix confirmed the sequel will launch day-and-date on the Nintendo Switch 2 alongside PlayStation 5, Xbox Series X/S, and PC Nintendo Life. Additionally, Capcom officially confirmed that Monster Hunter Wilds is in active development for the Switch 2, though a specific release date has not yet been shared EurogamerNintendo Life.

Ubisoft Shuts Down Multiple Studios in Global Restructuring

Ubisoft is closing multiple studios, resulting in up to 380 job lossesUbisoft are reportedly laying off up to 380 staff, as the Assassin's Creed publisher closes two studios and restructures anotherVGCRock Paper Shotgun

French publisher Ubisoft is executing another aggressive round of cost-cutting measures as part of an ongoing global restructuring process VGCRock Paper Shotgun. The company is entirely shutting down its development studios in Winnipeg, Canada, and Belgrade, Serbia, while laying off staff at its San Francisco office Rock Paper ShotgunGamesIndustry.biz. Furthermore, Ubisoft Barcelona is being restructured to focus exclusively on the Rainbow Six franchise, putting up to 380 total roles at risk across the affected divisions Rock Paper ShotgunVGC.

Final Fantasy VII Revelation and Persona 6 Officially Unveiled

Square Enix reveal Final Fantasy 7: Revelation, the final part of the remake trilogy, coming to PC in 2027Sephiroth Will Have A New Voice Actor In Final Fantasy VII RevelationRock Paper ShotgunNintendo Life

Square Enix has officially announced Final Fantasy VII Revelation, the third and final chapter in its remake trilogy, targeting a Spring 2027 release date Rock Paper ShotgunThis Week in Video Games. Unlike its predecessors, the finale will launch simultaneously across PC, PlayStation 5, and Xbox Series X/S, though the iconic villain Sephiroth will be recast as voice actor Tyler Hoechlin is unavailable Rock Paper ShotgunNintendo Life. Atlus also lifted the veil on Persona 6 for modern consoles, pairing the announcement with a deep dive into Persona 4 Revival, a ground-up Unreal Engine remake launching on February 18, 2027 EurogamerEurogamer.

Meanwhile, hands-on previews from Summer Game Fest gave players their first look at several highly anticipated titles. Creative Assembly's Alien: Isolation 2 previews confirm the survival horror sequel retains the slow-burn tension and brutal stalker AI of the original Push SquareNintendo Life. Additionally, Crystal Dynamics and Flying Wild Hog showcased Tomb Raider: Legacy of Atlantis, a modernized reimagining of Lara Croft's 1996 adventure coming to PlayStation 5 and Nintendo Switch 2 next year Nintendo LifeIGN.