News Karnataka
Sunday, February 05 2023
Business News

Microsoft to lay off nearly 11K employees this week: Report

Microsoft to lay off nearly 11K employees this week: Report
Photo Credit : IANS

San Francisco: Tech giant Microsoft is joining the ongoing layoff season at tech companies, and is reportedly set to fire nearly 11,000 employees this week amid the global economic slowdown.

Sky News reported that Satya Nadella-run company is “finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown”.

Microsoft employs more than 220,000 people, including 6,000 in the UK.

The company’s contemplating reducing roughly 5 per cent of its workforce, “which, if accurate, would equate to approximately 11,000 jobs”.

The company will likely announce layoffs on Wednesday (US time), ahead of its quarterly earnings next week.

Nadella recently warned of two years of challenges ahead for the tech industry.

In an interview with CNBC, he admitted Microsoft wasn’t “immune to the global changes”.

“The next two years are probably going to be the most challenging,” said Nadella.

In recent weeks, a slew of large tech companies have laid off employees, with Amazon slashing 18,000 jobs.

Salesforce, the cloud software provider, would cut more than 7,000 jobs.

More than 1,600 tech employees are being laid off per day on average in 2023 globally including in India, and the sacking episodes have gained speed amid global economic meltdown and recession fears.

The year 2023 has begun on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead.

Falcon Tyres employees continue protest against layoff

Twitter employees warn Musk amid mass layoff news as “reckless”

Bengaluru: Union Labour Ministry summons Amazon over layoffs

Amazon CEO confirms more layoffs coming in early 2023

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rohan City Corp
Rohan City Corp

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp