Microsoft to cut 10,000 jobs as wave of layoffs sweeps tech industry

admin 0 Comments January 18, 2023

, 2023-01-18 16:42:59

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Microsoft plans to lay off 10,000 employees, the company said Wednesday, as part of a restructuring plan to focus on areas of growth and brace the company for a potential economic downturn.

The tech giant is the latest corporation to cut workers amid economic uncertainty, coming off the spectacular highs of the early pandemic period, when Wall Street cheered on the staggering gains of internet, software and communications companies. Amazon, Facebook parent Meta and Salesforce are among the tech companies that have announced cuts as worries of a recession intensify. (Amazon founder Jeff Bezos owns The Washington Post.)

The layoffs at Microsoft amount to less than 5 percent of its 221,000-person workforce. Some of the affected workers will be notified as soon as Wednesday, the company said.

“These are the kinds of hard choices we have made throughout our 47-year history to remain a consequential company in this industry that is unforgiving to anyone who doesn’t adapt to platform shifts,” said Microsoft chief executive Satya Nadella in a note to staff that was published on the company’s blog.

Microsoft expanded rapidly during the pandemic, adding 77,000 employees from 2019 staffing levels, according to regulatory filings. That tracks with other big-tech firms that engaged in a fierce competition for talent, as the market for cloud computing services rapidly heated up.

The company’s retrenchment is its largest in several years. Microsoft…

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