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The entire country is facing the heat of layoffs. Many MNCs have already fired some of their best employees as part of their new policies, and Microsoft is no exception now.
Microsoft has announced that it will be cutting 10,000 jobs by the end of the third quarter of 2023, citing a slowdown in the technology sector and a need to prepare for an economic downturn.
The layoffs will result in a charge of $1.2 billion in the second quarter of 2023, which will negatively impact per-share profit by 12 cents.
This follows some job cuts that the company made last year, with reports of small numbers of roles being eliminated in July and under 1,000 employees being laid off across several divisions in October.
The company, led by CEO Satya Nadella, is also facing a decline in the personal computer market, which has resulted in less demand for its Windows and related software.
As of June 30th, Microsoft had 221,000 full-time employees, with 122,000 based in the United States and 99,000 internationally.
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