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Microsoft Laying Off 10,000 Employees Amid Business Slowdown

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Tech giant Microsoft announced that it is cutting 10,000 jobs, representing less than 5% of its global workforce, in an effort to cut costs amid signs of an economic slowdown.

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.

 

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“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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Microsoft confirms plans to lay off about 10,000 workers as tech companies cut backMicrosoft Corp. confirmed plans to lay off about 10,000 workers Wednesday amid a continued wave of job cuts in the technology sector.
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