Microsoft to cut 10,000 American jobs as US tech layoffs intensify
US tech giant Microsoft Corp has said it would cut 10,000 American jobs as layoffs are accelerating in the US technology sector with companies bracing for an economic downturn.
Chief Executive Officer Satya Nadella said in a memo to employees that the layoffs will begin by the end of March, with advance notice starting Wednesday.
Nadella said customers want to "optimize their digital spend to do more with less" and "exercise caution as some parts of the world are in a recession and other parts are anticipating one."
Microsoft also said the expense in the second quarter of the fiscal year 2023 represented a negative impact of 12 cents on earnings per share. Microsoft shares rose less than 1 percent.
In July 2022, Microsoft announced that a small number of roles had been eliminated, while news sources said in October the company had laid off fewer than 1,000 employees across multiple divisions.
The company is also struggling with a slump in the PC market after the Coronavirus pandemic ended, leaving little demand for Windows and its accompanying software.
While inflation continues to rise in the US and European countries, layoffs in the US tech sector have increased at a staggering pace. A recent report by relocation firm Challenger, Gray & Christmas found that tech layoffs in 2022 were up 649 percent year-over-year.
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