HomeIndustriesMicrosoft Becomes the Latest Company to Engage in Workforce Layoffs

Microsoft Becomes the Latest Company to Engage in Workforce Layoffs

Working for a tech company doesn’t seem all that great these days. The layoffs are taking place left and right, and not even Big Tech is immune to them. According to Bloomberg, Microsoft recently made a decision to cut one percent of its workforce as part of the process of “realigning business groups and roles.”

Reportedly, Microsoft will lay off one percent of its employees. This might not sound much at first until you consider that the company employs around 180,000 people. Also, the layoffs don’t seem to be based on the departments or have some geographical pattern.

“Today we had a small number of role eliminations,” said Microsoft in a statement sent to Bloomberg. “Like all companies, we evaluate our business priorities on a regular basis and make structural adjustments accordingly.”

The news comes after Microsoft previously made a decision to slow down its hiring and become less aggressive in terms of recruiting. However, the company still claims its overall number of employees will substantially increase by the end of the year.

“We will continue to invest in our business and grow headcount overall in the year ahead,” Microsoft’s statement added.

Microsoft is the latest tech company to trim down its workforce. The social media platform Twitter recently let go a third of its recruiting team, while Oracle is reportedly considering laying off thousands.

Activist Investor Elliott Management Won’t Pursue Changes on Salesforce’s Board

Improved results in the Q4 earnings report have allowed Salesforce to keep activist investor Elliott Management from pursuing changes on the company’s Board of...

First Citizens Bancshares Makes a Deal to Acquire Collapsed Silicon Valley Bank

The Federal Deposit Insurance Corporation (FDIC) has found a taker for the collapsed Silicon Valley Bank (SVB). On Monday, FDIC confirmed that North Carolina-based...

Banking Sector Stress Could Lead To Tighter Lending; ECB, Fed Officials Claim

Uncertainty across the banking sector is being closely monitored due to the potential for a credit crunch, a Federal Reserve official divulged on Monday....