Due to uncertain macroeconomic conditions, Microsoft is prepared for big layoffs after Twitter, Meta, and a number of other tech giants. The corporation may let off 5% of its workers by this week, according to The Verge. According to a Bloomberg article, the IT giant might make a layoff announcement as soon as today. At the moment, Microsoft employs about 220,000 people, or roughly 11,000 at 5%. Microsoft cut close to 1000 employees across divisions in October of last year.
The engineering department and the human resources department are anticipated to be the most affected, according to Bloomberg and Reuters. Microsoft has not disclosed a precise number for the amount of job layoffs. However, according to UK-based SKY news, 11,000 employees’ jobs are projected to be lost as a result of a 5 percent staff reduction. Microsoft has not yet made a formal announcement.
Additionally, Microsoft’s action serves as a warning that tech layoffs are still ongoing. Tech layoffs are likely to continue in 2023 following the severe layoffs of over 11,000 workers at Meta and 50% of the personnel at Twitter.