Tech layoffs have been increasing as the economy struggles to recover. Facebook, Twitter, Microsoft, and others have all been laying off employees by the thousands. These tech layoffs are a sign that companies are preparing for the worst to survive.
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Given that most of these tech layoffs are from publicly traded companies. It makes sense that Microsoft explains that these layoffs “will result in a charge of $1.2 billion in the second quarter of fiscal 2023.”
In a note to staff, shared with Reuters, Microsoft Chief Executive Satya Nadella said customers wanted to “optimize their digital spend to do more with less” and “exercise caution as some parts of the world are in a recession and other parts are anticipating one.”
The news of layoffs, reported by media publications on Tuesday, follows some reductions last year.
Microsoft said in July last year that a small number of roles had been eliminated, while news site Axios in October reported that the company had laid off under 1,000 employees across several divisions.Reuters
These tech layoffs aren’t the only thing Microsoft has to contend with. According to Reuters, “Microsoft is also grappling with a slump in the personal computer market after a pandemic boom fizzled out, leaving little demand for its Windows and accompanying software.”
It is going to be an interesting year ahead for everyone. But especially for big tech where it seems they have a lot of unneeded overhead.
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Last Updated on January 18, 2023.