tech giant, Microsoftplans to lay off approximately 11,000 of its employees between divisions, the United States broadcaster, Sky News, reported Tuesday.
The new development comes months after Twitter, Facebook and Amazon laid off employees.
The company is expected to announce plans to cut most of its shipments worldwide within days, reports said.
The layoffs will affect about 5 percent of Microsoft’s workforce, which if accurate, would equate to about 11,000 jobs.
The company had 221,000 full-time employees, including 122,000 in the United States and 99,000 internationally, as of June 30, according to a company filing.
Microsoft is the latest technology company to lay off employees in a new wave of massive layoffs in the tech industry where employees of Twitter, Facebook, Amazon and IT group Salesforce have been affected.
Dismissal
Earlier in January, Salesforce announced it would lay off about 10 percent of its employees.
Last year, Amazon laid off about three percent of its employees and less than one percent of its global workforce.
In November last year, Twitter Inc cut half its workforce as advertisers pulled spending amid concerns about content moderation.
Facebook’s parent company, Meta, also announced it will lay off more than 11,000 employees, reducing the company’s workforce by 13 percent.
Microsoft is expected to post a 2 percent sales gain in the second quarter when it reports earnings on January 24. This would be the slowest revenue increase since 2017.
In a blog post on Wednesday, Microsoft’s Chief Executive Officer, Satya Nadella, said that the company is making changes that will lead to a reduction in the overall workforce by 10,000 jobs by the end of the third quarter of the year.
ALSO READ: Osinbajo welcomes Microsoft’s offer to support Nigeria’s economy
“This represents less than 5 percent of the total employee base, with some news happening today,” he said.
“It is important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas. We understand this is a challenging time for everyone affected.
“The senior leadership team and I are committed to the fact that we are going to run this process, we are going to do it in the best possible and transparent way.”
Support journalism integrity and credibility PREMIUM TIMES
Good journalism costs a lot of money. But only good journalism can guarantee the possibility of a good society, responsible democracy, and transparent government.
For continued free access to the best investigative journalism in the country, we ask that you consider making a modest contribution to this noble effort.
By contributing to PREMIUM TIMES, you help keep journalism relevant and ensure it remains free and available to all.
contribute
AD TEXT: Call Willie – +2348098788999
