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.
Nearly 1% of Microsoft’s 1,80,000 employees across its offices and product divisions are reportedly affected by the layoffs.
‘Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly,’ Microsoft told Bloomberg in a statement late on Tuesday.
‘We will continue to invest in our business and grow headcount overall in the year ahead,’ the company added.
Additionally, Microsoft’s hiring has 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.
The corporation did, however, lower its expectations for Q4 revenue and profitability last month.
While Tesla, owned by Elon Musk, has been laying off hundreds of workers, Twitter has also reduced its recruiting staff by 30%.
Nvidia, Snap, Uber, Spotify, Intel, and Salesforce are a few notable big firms that have reduced hiring.
Oracle, a leading provider of cloud services, reportedly thought of firing thousands of employees recently in order to save up to $1 billion through cost-cutting measures.
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