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BUSINESS
Microsoft had also announced layoffs in May, which affected around 6,000 employees.
IT giant Microsoft plans to lay off nearly 9,000 of its employees, the Seattle Times reported on Wednesday. This is the second mass layoff in months, and the largest round of job cuts since 2023. The company had about 228,000 employees worldwide as of June 2024. Microsoft had also announced layoffs in May, which affected around 6,000 employees.
Microsoft layoffs
The tech giant was planning to cut thousands of jobs, particularly in sales, according to a Bloomberg News report in June. The upcoming cuts will reportedly target customer-facing roles. Microsoft’s sales and marketing division employs approximately 45,000, as of June 2024. The tech giant reportedly began sending out layoff notices Wednesday. The Satya Nadella-led company said it planned to reduce organisational layers with fewer managers and streamline its products, procedures and roles. “We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,” a Microsoft spokesperson said in an email, CNBC reported.
Other layoffs in IT giants
Earlier this year, Facebook parent Meta said it would trim about 5 per cent of its “lowest performers”. Alphabet’s Google has also laid off hundreds of employees in the past year. Amazon has also cut jobs across its business segments, most recently in its books division.
Microsoft’s share closed at a record high of USD 497.45 per share on June 26. At the start of Wednesday’s trading session, the shares were down about 0.6 per cent, while the S&P 500 was roughly flat.
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