Microsoft said it plans to cut 10,000 jobs, or about 5% of its workforce, taking steps to cope with an increasingly bleak outlook that has now bruised many of the technology industry’s biggest names.
Microsoft Corp. said it plans to cut 10,000 jobs, or about 5% of its workforce, taking steps to cope with an increasingly bleak outlook that has now bruised many of the technology industry’s biggest names.
Speaking earlier in the day before the cuts were announced, Chief Executive Officer Satya Nadella noted the tech industry is going through a period of slowdown and will need to adjust. Cloud rival and Seattle-area neighbor Amazon.com Inc. is set to begin a round of layoffs Wednesday, ultimately affecting more than 18,000 employees in the largest job cull in its history.
The company didn’t specify where the job cuts would be concentrated, but Bloomberg reported earlier that the company plans to eliminate positions in a number of. The job cuts will be complete by the end of Microsoft’s fiscal third quarter, according to the company. Earlier this month, UBS cut the stock to neutral, pointing to concerns about the cloud-computing division.Microsoft will start notifying some of the fired workers immediately with others to come in the next several months.
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