Microsoft confirms job cuts after calling for slower growth

0

Satya Nadella, Chairman and CEO of Microsoft Corp., speaks during the Meta Connect virtual event in New York City on October 11, 2022.

Michael Nagle | Bloomberg | Getty Images

A Microsoft The spokesperson confirmed on Monday that the company has laid off additional workers as the software maker’s revenue is expected to slow, thanks to lower Windows PC license sales.

The move aligns with efforts by technology companies large and small to cut costs. Metaplatforms and Selling power are among those in Silicon Valley that have slowed their pace of hiring this year, even as Coinbase, netflix and others have resorted to layoffs.

“Like all companies, we regularly assess our business priorities and make structural adjustments accordingly,” a Microsoft spokesperson told CNBC. “We will continue to invest in our business and hire in key growth areas in the coming year.”

Monday’s announcement comes three months after Microsoft said it cut less than 1% of its employees.

In July, Microsoft called for revenue growth of around 10% in the fiscal first quarter, slower than it has been in more than five years. The company will announce its results on October 25.

Axios, which reported the layoffs earlier on Monday, said the cuts affected fewer than 1,000 people and cited an unnamed person.

LOOK: Microsoft’s Yusuf Mehdi: If customers want a particular chip, we’ll support them

Share.

Comments are closed.