Washington (USA), 18th January 2023: Today (January 18), Microsoft plans to lay off thousands of employees. According to Reuters, who cited Sky News, the software giant planned to eliminate thousands of jobs, or 11,000 positions, or around 5% of its staff.
Today, thousands of job layoffs are anticipated in the engineering and human resources departments. The job cuts would be the most recent in the US technology industry, where firms including Amazon.com Inc. and Meta Platforms Inc. have announced retrenchment plans in response to sluggish demand and a worsened outlook for the world economy.
After the personal computer market decline damaged Windows and device sales for several quarters, Microsoft is under pressure to keep up growth rates at its cloud business Azure, according to Reuters.
According to Reuters, shares of Microsoft, which will announce its quarterly results on January 24, were slightly higher in late afternoon trading. The action by Microsoft might be a sign that layoffs in the tech industry will persist.