Microsoft could be the latest tech giant to cut its workforce with major layoffs, according to Microsoft multiple reports.
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The company plans to cut thousands of jobs, possibly up to 5% of the total workforce, according to the New York Times. The company employs more than 220,000 people.
The layoffs are reported to begin soon and could hit the engineering department as early as Wednesday, a source familiar with the matter said. Bloomberg.
Microsoft is far from the first — and perhaps not the last — tech company to scale back its workforce and pause hiring. With demand slowing from the peak of the pandemic, tech companies have begun to reevaluate earnings and priorities.
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Amazon, which began laying off employees in its appliances division, also announced another round of layoffs on Wednesday. The layoffs will reportedly affect 18,000 jobs, the largest cut in the company’s history.
As for Microsoft, the number of layoffs could not be confirmed, a source told Bloomberg, but that it would be much larger than last year’s layoffs, which affected only about 1% of the workforce.
