Home Technology Microsoft Set To Lay Off Employees Amid Global Slowdown

Microsoft Set To Lay Off Employees Amid Global Slowdown

Microsoft Set To Lay Off Employees Amid Global Slowdown


Microsoft has become the first tech giant to lay off employees as part of a ‘realignment’. The layoffs at Microsoft reportedly affect nearly 1 per cent of its 1,80,000-strong workforce across its offices and product divisions.
“Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly,” Microsoft told Bloomberg in a statement late on Tuesday.
“We will continue to invest in our business and grow headcount overall in the year ahead,” the company added. Microsoft has also slowed hiring in the Windows, Teams and Office groups.
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Microsoft reported strong earnings in its third quarter, with a 26 per cent jump (on-year) in cloud revenue and overall revenue of $49.4 billion.
However, last month, the company revised its Q4 revenue and earnings guidance downward.
Google has also chimed in with its response to the global situation, and Sundar Pichai, CEO, Google has confirmed that the company is going to slow down its hiring process in the second of 2022. He he even sent out an internal memo detailing the plans for the company in the near future.
Also Read: Google Slows Down Hiring In 2022: Here’s What CEO Sundar Pichai Said To Employees
Twitter has also cut 30 per cent of its recruiting team while Elon Musk-run Tesla has been laying off hundreds of employees. Other tech companies that have slowed hiring include Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.
Cloud major Oracle recently considered laying off thousands of workers to save up to $1 billion in cost-cutting measures, the media reported.
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