Microsoft has responded to the present economic downturn by laying off 10,000 employees. Around 5% of the entire staff of the software company is affected by this.
In the second fiscal quarter, Microsoft expects to incur costs of $1.2 billion due to this move. Around 221,000 people were employed by the corporation in October 2022; it is well recognized for developing the Windows operating system. By Microsoft's fiscal third quarter's end, all of the layoffs should have been finalized. Recession is expected in many parts of the world, which has led to the layoffs. Shortly before the layoffs were revealed, Microsoft CEO Satya Nadella indicated in an interview that demand had returned to normal after seeing fast acceleration during the pandemic. You must now multitask with less resources.
Financial data for Microsoft's first quarter of fiscal 2023 will be released on January 24. Bloomberg predicts that sales will rise by 2%, the lowest rate of growth in the past six years.
