TELETRADER News
1/17, 7:51 PM
(Source: TeleTrader)
Microsoft considering to cut workforce by 5%
Tech giant Microsoft Corp. is said to be considering laying off thousands of its employees amidst a global economic slowdown.
According to a report published by Sky News on Tuesday, Microsoft is looking at reducing its workforce by about 5% or as much as 11,000 people. The announcement could come before Microsoft's earnings report for the second quarter of fiscal 2023 arrives in a week.
Microsoft denied providing an official stance on the report for the news channel, however, other US media hinted the first job cut announcement could come as soon as tomorrow. If officially declared, the US tech giant would join other Big Tech who have already confirmed firing thousands of people in recent weeks.