New Delhi, July 13 (SocialNews.XYZ) The economic meltdown has reached Big Tech and Satya Nadella-run Microsoft has become the first tech giant to lay off employees as part of a 'realignment'.
The layoffs at Microsoft reportedly affect nearly 1 per cent of its 1,80,000-strong workforce across its offices and product divisions.
"Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly," Microsoft told Bloomberg in a statement late on Tuesday.
"We will continue to invest in our business and grow headcount overall in the year ahead," the company added.
Microsoft has also slowed hiring in the Windows, Teams and Office groups.
Microsoft reported strong earnings in its third quarter, with a 26 per cent jump (on-year) in cloud revenue and overall revenue of $49.4 billion.
However, last month, the company revised its Q4 revenue and earnings guidance downward.
Twitter has also cut 30 per cent of its recruiting team while Elon Musk-run Tesla has been laying off hundreds of employees.
Other tech companies that have slowed hiring include Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others.
Cloud major Oracle recently considered laying off thousands of workers to save up to $1 billion in cost-cutting measures, the media reported.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz