Here’s seems to no stopping the layoff wave, at least for now. After biggies like Meta, Twitter, Amazon, Goldman Sachs issued pink slips to thousands of their employees, Microsoft is also expected to announce job cuts on Wednesday, affecting about 5 per cent of its workforce. Microsoft layoff 2023: Over 10000 Microsoft employees may lose jobs.
Layoffs at Microsoft would be the latest in the US technology sector, where several companies have already announced retrenchment exercises in response to slowing demand and a worsening global economic outlook. The Satya Nadella-led software giant is planning to slash its workforce by 5 per cent or cut about 11,000 roles, UK broadcaster Sky News reported.
The departments that could be impacted by the job cuts include engineering divisions; Bloomberg News reported quoting a person in the know of it. The cuts will be significantly larger than other rounds in the past year when it gave pink slips to nearly 1,000 people and are being announced ahead of Microsoft’s quarterly earnings next week.
As of June 30, the company had 221,000 full-time employees, including 122,000 in the US and 99,000 internationally. Worth mentioning here is that the software major had just a few days back introduced a new unlimited time off policy. As per the policy, Microsoft employees who have an unused vacation balance will get a one-time payout in April, and managers will be able to approve unlimited “Discretionary Time Off.”
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Meanwhile, over 30,000 employees have bore the brunt of the layoff wave globally in just a few days of 2023. Last week, investment bank Goldman Sachs lay off around 3,000 employees; e-commerce giant Amazon has also sacked 18,000 people as it implemented the jobs cuts.
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