Technology
Microsoft to cut thousands of jobs across divisions
Microsoft plans to cut about 5% of its workforce, or about 11,000 roles.
Washington DC: Microsoft plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions, according to media reports on Tuesday.
The expected layoffs would be the latest in the US technology sector, where companies including Amazon.com and Meta Platforms have announced retrenchment exercises in response to slowing demand and a worsening global economic outlook.
Microsoft's move could indicate that the tech sector may continue to shed jobs.
"From a big picture perspective, another pending round of layoffs at Microsoft suggests the environment is not improving, and likely continues to worsen," Morningstar analyst Dan Romanoff said.
UK broadcaster Sky News reported, citing sources that Microsoft plans to cut about 5% of its workforce, or about 11,000 roles.
The company plans to cut jobs in a number of engineering divisions on Wednesday, Bloomberg News reported, according to a person familiar with the matter, while Insider reported that Microsoft could cut recruiting staff by as much as one-third.
The cuts will be significantly larger than other rounds in the past year, the Bloomberg report said.
Microsoft declined to comment on the reports.
The company had 221,000 full-time employees, including 122,000 in the United States and 99,000 internationally, as of June 30, according to filings.
Microsoft is under pressure to maintain growth rates at its cloud unit Azure, after several quarters of downturn in the personal computer market hurt Windows and devices sales.
It had said in July last year that a small number of roles had been eliminated. In October, news site Axios reported that Microsoft had laid off under 1,000 employees across several divisions.
Shares of Microsoft, which is set to report quarterly results on January 24, were marginally higher in late afternoon trading.
SOURCE: REUTERS
-
Pakistan 1 day ago
Newly elected MNA Ali Pervaiz takes oath
-
Pakistan 2 days ago
NAB amendments case: Imran appears in SC via video link
-
Pakistan 1 day ago
After Imran’s photo leak, mobiles banned in SC
-
Pakistan 14 hours ago
In PML-N huddle, Nawaz Sharif deplores past 'injustices'
-
Pakistan 2 days ago
Petition against Dar’s appointment as Deputy PM dismissed
-
Business 2 days ago
Rs1,600 increase recorded in per tola gold price
-
Business 19 hours ago
Prices of gold go extremely high today
-
World 23 hours ago
Riots among students in Kyrgyzstan