Microsoft could be the next tech giant to announce layoffs after reports suggest that 11,000 of its employees could lose their jobs.
While the reports do not claim to have all the details, they cite about five per cent of the company’s 220,000 workforce to be affected by the job cuts. Also, the layoffs could be spread throughout the company, including the engineering divisions.
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Microsoft refused to address the story when reached for comments. However, it is not alone as we have seen similar layoffs happening across tech firms since last year. Even its significant large number of layoff is similar to the volume of people that lost their jobs at Facebook parent, Meta.
Amazon, the ecommerce giant that saw more than half of its valuation wiped off post-pandemic, announced an even larger number of layoffs with 18,000 employees about to be without jobs.
Engadget said that Microsoft’s woes can also be traced to the post-pandemic tech turbulence. The company had grown its workforce during the sprout cause by COVID-19, adding nearly 50,000 people within two years. Now, things are no longer looking up and these employees will pay for it with their jobs.
In 2023, Microsoft has been showing some promise of getting the best out of the times. It is lining up a $10 billion investment in OpenAI, the company behind ChatGPT and DALLE-2. It is also bundling these products with its services to give clients more tools and entice new customers.
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