Microsoft lays off around 1000 employees amid global slowdown
By MYBRANDBOOK
US tech giant Microsoft has laid off about 1,000 employees across different positions, levels and geographic regions including the Xbox and the Edge teams. The company is looking to revise its business goals and cut down the workforce to manage its budgets.
The Microsoft layoff adds it to a series of US technology companies that are cutting jobs or slowing hiring amid global economic slowdown. A Microsoft spokesperson said, “Like all companies, we evaluate our business priorities regularly and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead.”
Tech companies including Meta Platforms Inc, Twitter Inc and Snap Inc have cut jobs and stopped hiring in recent months due to global economic slowdown, rising inflation, etc. However, the tech industry managed to profit during the pandemic. Share prices soared as businesses and consumers moved towards Zoom Video Communications, Slack Technologies and Netflix and spent more time on social media and the internet in general.
Another report earlier claimed that more than 32,000 workers in the US tech industry across Big Tech firms, including Microsoft and Meta had been sacked off in mass job cuts till late July. This layoff has affected less than 1% of Microsoft’s total workforce of around 221,000 as of June 30.
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