said it is cutting 10,000 jobs, representing about 5% of its global workforce, in an effort to cut costs amid signs of an economic slowdown.
In addition to the layoffs, Microsoft is taking other cost-cutting actions, including making “changes to our hardware portfolio” and will consolidate building leases “to create higher density across our workspaces,” the company said in. All together, Microsoft said the moves will result in a charge of $1.2 billion in December 2022 quarter, representing a 12 cent/share hit to diluted earnings.
“Nothing is bad or wrong, we just think things COULD get bad, so we’re like using it as an excuse to get rid of 10,000 people.”
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