Tech giant, Microsoft Corp reportedly has plans to lay off about 11,000 workers, especially in human resources and engineering divisions.
The expected layoffs would be the latest in the U.S. technology sector, where companies including Amazo and Meta Platforms have announced mass layoffs exercises in response to slowing demand and a worsening global economic outlook
Microsoft’s move could indicate that the tech sector may continue to shed jobs.
Morningstar analyst Dan Romanoff opined that “from a big picture perspective, another pending round of layoffs at Microsoft suggests the environment is not improving, and likely continues to worsen.”
Sky News reported, citing sources, that Microsoft plans to cut about 5% of its workforce or about 11,000 roles.
According to findings, the company had 221,000 full-time employees, including 122,000 in the United States and 99,000 internationally, as of June 30.
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Microsoft is under pressure to maintain growth rates at its cloud unit Azure after several quarters of a downturn in the personal computer market hurt Windows and devices sales.
It had said in July last year that a small number of roles had been eliminated. In October, news site Axios reportedthat Microsoft had laid off under 1,000 employees across several divisions.
