Tech Layoffs Intensify As Microsoft To Fire Thousands Of Employees

(RTTNews) - Confirming media reports, tech major Microsoft Corp. in a regulatory filling announced its plans to cut overall workforce by about 10,000 employees by the end of the third fiscal quarter of 2023. The move is part of a series of actions in response to ongoing macroeconomic conditions.

Towards this, the company will record $1.2 billion charges in the second quarter.

Microsoft joins many major US tech firms who recently announced job cuts or hiring freeze amid the slowing growth, including Amazon, Meta Platforms Inc. and Twitter.

Alphabet, the tech behemoth, is yet to announce any major layoff, despite several reports of upcoming job cuts inside the company. Employees at Google anticipate an imminent announcement of huge layoffs, according to reports. In November, The Information had reported that Alphabet was planning to lay off nearly 10,000 low performing employees starting early 2023 in order to curb costs. As per reports, the tech major has asked managers to identify 6 percent of its staff using a new performance management system.

Amazon had announced plans to cut 18,000 jobs, or about 6% of its workforce, while Facebook parent Meta said it was reducing its workforce by around 11,000 roles.
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