Microsoft plans to slash 10,000 jobs from its global workforce amid growing concerns that the economy will experience a recession. The layoffs is expected to begin this week.
Microsoft Layoffs Reflect An Industry Wide Trend
This comes as no surprise as the tech industry is experiencing a downturn, following rapid mass hiring during the pandemic. The company, which has already experienced two layoffs in 2022, plans to further slash jobs in a effort to save costs.
Other major tech companies such as Amazon, Facebook have also laid off 5-10% of their workforce in 2022.
“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 CEO Satya Nadella.