Microsoft Lays Off Nearly 1,000 Staff Worldwide Amid Fears Of A Recession

Category: Business News

 

Microsoft has laid off nearly 1,000 employees worldwide amid fears of a recession, becoming just the latest major tech company to do so.

The layoffs represent less than half of 1 percent of the company’s 221,000 employees globally, ABC News reports.

But the job cuts affect everything from Microsoft’s Xbox console gaming division to its cutting edge Microsoft Strategic Missions and Technology organization, according to Business Insider.

Some former employees have now taken to Twitter to share their unfortunate news, with even KC Lemson, a longtime employee and product manager in the office of the Chief Technology Officer sharing that she was affected.

The news comes as shares of the tech company fell nearly 30 percent over the past year amid persistent inflation and decreased demand for products as people return to their offices.
In a statement, Microsoft executives said: ‘Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly.

‘We will continue to invest in our business and hire in key growth areas in the year ahead.’

With the announcement, Microsoft is just the latest company to cut its workforce amid rampant inflation.