The software company is looking to lay off about 5% of its current staff. 

The precise number “cannot be verified” at this time.

Reportedly in the next few days, Microsoft will carry out a massive layoff, affecting 11,000 employees. During a worldwide economic slump, the report claims the technology giant wants to lay off a large portion of its workers.

Right from 2022, layoffs were routine, and many people started planning ahead for potentially dire macroeconomic conditions. Microsoft is planning to reduce its worldwide staff in a similar fashion. Major firms like Amazon, and Facebook have already reduced their staff.

Economic Downturn Effect

Throughout the first several weeks of 2023, it has dominated news cycles. Numerous businesses have recently announced and implemented significant layoffs. Many people have done this in an effort to counteract the underlying causes of the economic downturn. A fact that many believe will have consequences this New Year.

According to Sky News, Microsoft has announced a massive layoff of 11,000 employees. The verdict will likely be released within the next several days.  Rumor has it that the software company is looking to lay off about 5% of its current staff. As a result, the computer giant, which now employs 220,000 employees worldwide, would have to lay off tens of thousands of workers.

Sky News has indicated layoffs are imminent, although the outlet has cautioned that the precise number “cannot be verified” at this time. 

According to the same research, the company’s current market worth is $1.78 trillion. Additionally, “second-quarter earnings next week,” will be released. Sky News, however, points out that the layoff numbers should be made public before Microsoft CEO Satya Nadella “updates investors on its financial performance on Jan 24.

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Filed under: Bitcoin - @ January 18, 2023 8:04 am