Microsoft layoffs add up to 1,000 jobs
According to a report by Axios on Tuesday, October 18, citing a source, Microsoft Corporation terminated the employment of fewer than one thousand workers this week across several divisions. Microsoft is the latest US technology company to cut jobs or slow hiring amid a slowdown in global economic activity.
The number of employees affected by the layoffs was less than one percent of Microsoft’s overall staff as of the 30th of June.
In July, the company announced that it had reduced the number of opportunities it was offering but that it planned to grow the number of employees it employed in the future.
A request for comment on the Axios report that was sent to Microsoft by Reuters was not immediately met with a response.
On the other hand, it did provide a statement to Axios in which it said, “Like any organizations, we examine our business priorities on a regular basis and make structural adjustments accordingly. In the coming year, we plan to keep making investments in our company and adding employees in strategic development areas.”
The expansion of the global economy has slowed in recent months due to higher interest rates, rising inflation, and an energy crisis in Europe. As a result, several technology companies, including Meta Platforms Inc., Twitter Inc., and Snap Inc., have reduced the number of jobs they have available and have cut back on hiring.