This week, Microsoft declared thousands of jobs, thereby turning into the latest technology firm to fire its personnel due to the slowdown of the global economy.
The software organization confirmed on Wednesday that it was decreasing its staff by 10,000 members by the completion of the third quarter of the financial year in 2023.
The arrival of the cuts “in response to macroeconomic conditions and changing customer priorities,” was released in a declaration to its staff by the Chief Executive Officer, Satya Nadella, on Wednesday.
Microsoft declared that the terminations would impact approximately five percent of its staff, with some information delivery occurring as quickly as Wednesday.
“It’s important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas. We know this is a challenging time for each person impacted,” Nadella had written in a declaration. “The senior leadership team and I are committed that as we go through this process, we will do so most thoughtfully and transparently possible.”
According to Bloomberg, which quoted an individual familiar with the matter, Microsoft will reduce the jobs in many engineering divisions.
The stock of Microsoft:
The stock of the firm was more in the early Wednesday trading, thereby starting at a share cost of $241.5.
How many staff members are there at Microsoft?
Microsoft has about 221,000 individuals worldwide, which includes 122,000 in the U.S., as of June 30, 2022.