Microsoft will eliminate 10,000 positions as PC sales and cloud growth fall
Microsoft (MSFT) made the announcement on Wednesday as part of a cost-cutting initiative at the computer giant. The layoffs will affect approximately 4.5% of Microsoft’s 221,000 employees.
By the end of Microsoft’s fiscal Q3, which ends on March 31, the reductions ought to be finished.
Microsoft estimates that the cost of the layoffs will be $1.2 billion, or -$0.12 per share.
Microsoft is experiencing slower PC sales than it had during the epidemic when people rushed to buy new PCs and laptops to use for anything from business and distance learning to gaming.
The decision by Microsoft comes after similar actions by other Big Tech companies.
Earlier last month, Amazon started firing 18,000 employees. In contrast, 11,000 jobs were lost at Meta (META) in November.
