Thousands of layoffs is being planned by Microsoft Corp and the tehc giant wants to completely eliminate some positions in the human resources and engineering divisions, according to media reports published recently.
The expected layoffs would be the latest in the United States' technology sector, where companies such as Amazon.com Inc and Meta Platforms Inc have announced layoffs in response to slowing demand and a worsening global economic outlook.
Microsoft's decision may indicate that the tech industry will 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.
According to Sky News, which cited sources, Microsoft plans to cut 5% of its workforce, or approximately 11,000 jobs.
According to a person familiar with the matter, the company plans to cut jobs in a number of engineering divisions on Wednesday, while Insider reported that Microsoft could cut recruiting staff by up to one-third.
According to Bloomberg, the cuts will be significantly larger than previous rounds in the past year.
There were no comments on the issue available from Microsoft.
According to filings, the company had 221,000 full-time employees as of June 30, including 122,000 in the United States and 99,000 globally.
Microsoft is under pressure to maintain Azure's growth rates after several quarters of decline in the personal computer market hurt Windows and device sales.
It announced in July of last year that a small number of positions had been eliminated. According to the news site Axios, Microsoft laid off less than 1,000 employees across several divisions in October.
Microsoft shares, which are set to report quarterly results on January 24, were slightly higher in late afternoon trading.
(Source:www.economictimes.com)
The expected layoffs would be the latest in the United States' technology sector, where companies such as Amazon.com Inc and Meta Platforms Inc have announced layoffs in response to slowing demand and a worsening global economic outlook.
Microsoft's decision may indicate that the tech industry will 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.
According to Sky News, which cited sources, Microsoft plans to cut 5% of its workforce, or approximately 11,000 jobs.
According to a person familiar with the matter, the company plans to cut jobs in a number of engineering divisions on Wednesday, while Insider reported that Microsoft could cut recruiting staff by up to one-third.
According to Bloomberg, the cuts will be significantly larger than previous rounds in the past year.
There were no comments on the issue available from Microsoft.
According to filings, the company had 221,000 full-time employees as of June 30, including 122,000 in the United States and 99,000 globally.
Microsoft is under pressure to maintain Azure's growth rates after several quarters of decline in the personal computer market hurt Windows and device sales.
It announced in July of last year that a small number of positions had been eliminated. According to the news site Axios, Microsoft laid off less than 1,000 employees across several divisions in October.
Microsoft shares, which are set to report quarterly results on January 24, were slightly higher in late afternoon trading.
(Source:www.economictimes.com)