Microsoft will lay off 10,000 workers in the latest round of layoffs in the computer industry.
It will affect up to 5% of the company’s global staff and cost the company $1.2 billion in severance and reorganization costs.
While consumer spending increased during Covid, more people are now choosing to “exercise caution,” according to Microsoft CEO Satya Nadella.
He stated that the company would continue to hire in crucial sectors.
Hundreds of internet companies, including some of the industry’s biggest names like Amazon and Instagram owner Meta, have announced layoffs in recent weeks.
Microsoft’s business grew during the epidemic, as did that of other technology companies, thanks to an increase in remote work and other internet activities.
Its employment increased by approximately 40,000 between June 2021 and June 2022, when it reported having approximately 221,000 full-time employees, including 99,000 outside of the United States.
As business slowed last year, the firm embarked on a series of job cuts.
