Microsoft to lay off 10,000 employees, cut 5% of global workforce

Microsoft Microsoft is laying off 10,000 employees by the end of third quarter of fiscal 2023, the latest sign that layoffs are accelerating in the U.S. technology sector as companies brace for an economic downturn. The Redmond, Washington-based software giant said it will also be making changes to its hardware portfolio and consolidating its leased office locations. The Satya Nadella-led firm is also grappling with a slump in the personal computer market after a pandemic boom fizzled out, leaving little demand for its Windows and accompanying software. Microsoft’s layoffs are not unique in the tech industry or any other industry at this time. An unstable economy and a cost-of-living crisis will influence companies to tighten their belts with recruitment freezes, restructuring, and unfortunate job cuts.

News source: Microsoft / image source: Pixabay 


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