Microsoft, the world's number one software company, is going to lay off thousands of employees today. Citing Sky News, news agency Reuters has given this information. According to Reuters, Microsoft will sack five percent of its workforce or 11,000 employees.
Thousands of employees will be affected, this retrenchment in Microsoft will be in Human Resources and Engineering departments. This announcement of the company can affect thousands of employees. The layoffs would be the latest in the US technology sector. Let us tell you that earlier many tech companies including Amazon and Meta have laid off in response to slowing demand and deteriorating global economic outlook. As of June 30, Microsoft had 221,000 full-time employees, including 122,000 in the United States and 99,000 internationally, according to the report.
Microsoft is under pressure to maintain growth in its cloud unit Azure after several quarters of decline in the personal computer market hurt sales of Windows and devices, according to news agency Reuters. At the same time, the company had laid off some employees in July last year as well. In October, news site Axios reported that Microsoft had laid off nearly 1,000 employees across multiple divisions.
The shortage of jobs in the technical sector will continue
Microsoft's move may indicate that the shortage of jobs in the technical sector may continue. Microsoft is the latest big tech company to face a challenging economy. Microsoft employees who have unused vacation balances will receive a one-time payment in April.