Microsoft to cut 10,000 jobs as the global tech workforce intensifies

Microsoft Corp said on Wednesday that it will cut 10,000 jobs by the end of the third quarter of fiscal 2023, the most recent indication that layoffs in the American technology sector were escalating as businesses prepared for an economic downturn.

According to Microsoft, the layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023, which will have a negative effect of 12 cents on profit per share.
Microsoft announced the termination of a limited number of positions in July of last year, while the news website Axios reported the layoff of fewer than 1,000 workers across many businesses in October.

The corporation led by Satya Nadella is also dealing with a fall in the personal computer industry as a pandemic boom burst, leaving little demand for its Windows and related software.