Microsoft is cutting 10000 jobs in the latest round of tech layoffs – Quartz

Microsoft announced plans to cut 10,000 jobs, approximately 5% of its workforce, as the company braces for increased economic uncertainty.CEO Satya Nadella’s email to employees, dated Jan. 18, did not detail where the cuts would be happening, but Bloomberg reported that the layoffs will be concentrated in the engineering division.Microsoft has been on a hiring spree in recent years, adding more than 75,000 people since 2019 as revenue grew by 58%. Now, Nadella’s announcement makes Microsoft the latest tech giant to announce slashes to its workforce, as the industry looks to cut costs.The layoffs will be completed by the end of March, according to Microsoft’s filing with the SEC. It is the company’s largest layoffs since 2014, when it cut roughly 25,000 jobs over two years following Nokia’s misguided acquisition.Microsoft also announced it would continue hiring in some strategic areas, including artificial intelligence research. Additionally, the company informed shareholders it would take a $1.2 billion charge in the second quarter related to severance expenses, as well as a reduction of office space and unspecified “changes to hardware portfolios.”Quotable: “We’re going to go through a phase today where there is some amount of normalization in demand. We will have to do
Read More