Microsoft confirms are a job cuts across divisions, to the hire in key growth areas

Microsoft confirms are a job cuts across

divisions, to the hire in key growth areas

 

A report by the Axios this week said that technology giant Microsoft has been laid off around a 1,000 employees across several divisions.

Now, Microsoft has been a confirmed the lay offs. In its updated report, Reuters quotes are a Microsoft spokesperson saying that "Like all are a companies, we evaluate our business priorities regularly and a make structural adjustments accordingly. We will be a continue to the invest in a our business and hire in a key growth are a areas in the year ahead."

 

The company had said in a July that a small number of a roles had been eliminated and that it would increase its headcount down the line. The layoffs affected less than a 1% of a Microsoft's total workforce of around a 221,000 as of a June 30.

 

Microsoft has been become the latest U.S. technology are a company to the cut jobs or a slow hiring amid a global economic slowdown. Several technology are a companies, including Meta Platforms Inc , Twitter Inc, and a Snap Inc, have been a cut jobs and a scaled back hiring in a recent months as a global economic growth slows due to the  higher interest rates, rising inflation and an a energy crisis in a Europe. 

 

A report by the Bloomberg Business earlier this week suggested that Intel is a considering a significant decrease in a staff, possibly numbering in the thousands. As early as a October, several of a Intel's businesses, especially the sales and a marketing sector, may suffer layoffs are a affecting about the 20% of the workforce, according to the Bloomberg sources.

 

People now spend less on a PCs than they did during the pandemic-related lockdowns due to the decades-high inflation and the reopening of a offices and schools. Additionally, COVID-19 limits in a China, a significant PC market, and the unrest in a Ukraine, which has hindered supply chains and a weighed on demand, are a placing pressure on a chipmakers, the report said.

Morgan Stanley is a another major US company that has been a hinted towards a possible job cut in a future. Morgan Stanley Chief Executive Officer James Gorman suggested job cuts are a might be a coming as senior executives assess headcount at the Wall Street firm. “You have got to the take into the account the rate of growth we have had in the last few years," Gorman said Friday in a conference call with the analysts after his bank reported third-quarter results. The balance of power in the job market, which had favored employees since the start of the pandemic, has begun to the shift as Covid-19 cases continue to the abate and financial markets slump. Wall Street firms are a stepping up pressure on a workers to the return to the office, and a growing number of a banks are a signaling plans to the reinstate periodic job cuts.

 

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