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Microsoft is the First Major Technology Company to Reduce Staff During the Financial Crisis

Microsoft has become the first major tech company to lay off staff as a result of the prolonged recession

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Russell Chattaraj
Russell Chattaraj
Mechanical engineering graduate, writes about science, technology and sports, teaching physics and mathematics, also played cricket professionally and passionate about bodybuilding.

UNITED STATES: The Satya Nadella-run Big Tech sector has been affected by the economic crisis. As part of a “realignment,” Microsoft has made history by firing employees for the first time. The layoffs reportedly affect nearly 1% of Microsoft’s 1,80,000 employees across its offices and product divisions.

“We only had a few role eliminations today. Like all businesses, we regularly assess our business goals and make appropriate structural modifications,” Bloomberg was informed by Microsoft in a late-Tuesday statement.
The business continued, “We will continue to invest in our company and raise headcount generally in the year ahead.”

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Microsoft’s hiring has also slowed in the Office, Teams, and Windows divisions. Microsoft’s third-quarter profits were good, with total sales of $49.4 billion and a 26% increase (year over year) in cloud revenue. However, the corporation did lower its Q4 revenue and profitability expectations last month. While Tesla, owned by Elon Musk, has been laying off hundreds of workers, Twitter has also reduced its recruiting staff by 30%.

In addition to Salesforce, Nvidia, Snap, Uber, Spotify, Intel, and other well-known large companies have all decreased employment. Oracle, a leading provider of cloud services, reportedly thought of firing thousands of employees recently to save up to $1 billion through cost-cutting measures.
Bloomberg initially covered the layoffs.

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Microsoft’s fiscal year 2023 began on July 1st. Although the firm has not yet provided a particular date, the Redmond, Washington-based computer giant is anticipated to release its financial results for the fourth fiscal quarter and the entire fiscal year 2022 later this month.

Also Read: Maharashtra Political Crisis: The Matter to be Placed Before the Constitutional Bench

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  • Russell Chattaraj
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    Mechanical engineering graduate, writes about science, technology and sports, teaching physics and mathematics, also played cricket professionally and passionate about bodybuilding.

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