Microsoft has announced that it will lay off approximately 10,000 employees, which is less than 5% of its total workforce. The company will begin the redundancies on Wednesday. Microsoft is facing pressure from customers to do “more with less” in light of the current global economic climate. The software giant joins other companies such as Amazon, Meta and Alphabet who have all announced recent layoffs. In addition, Microsoft will take on a $1.2 billion charge related to restructuring costs. Despite this news, the company says it will continue to invest in strategic areas such as artificial intelligence.
It joins a growing list of large tech firms that have recently cut staff, a roster that includes Amazon, Meta, Salesforce, Twitter and Snap, among others.