Microsoft plans to lay off almost five percent of staff before April. The Big Tech firm revealed 10,000 employees will lose their jobs as it responds to the challenging economic environment in 2023.
The layoffs, which were first reported by the Financial Times, reflect “changing customer priorities,” and the firm’s desire to scale back after a pandemic hiring spree. The news was revealed on Wednesday in a regulatory filing with the US Securities and Exchange Commission.
As of June 2022, Microsoft had a total of 221,000 employees working across the globe. It added 40,000 new employees between 2021 and 2022 in response to a pandemic-induced rise in demand for digital services.
The news follows other significant headcount reductions across the technology industry. Fellow Big Tech firm, Amazon, recently announced 18,000 staff would lose their jobs.
Financial sector jobs have also been hit, with the likes of Goldman Sachs and BlackRock announcing reductions in headcounts in 2023.
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