Breaking: Microsoft cutting 10,000 jobs as tech sector woes spread
Analysts had been predicting that Microsoft, which has weathered past slowdowns without massive job cuts, would feel the pinch this year.Microsoft Corp. plans to cut 10,000 jobs, or about 5% of its workforce this year, taking steps to cope with an increasingly bleak outlook that has now bruised many of the technology industry’s biggest companies.
Microsoft is scheduled to report results on Jan. 24. and is forecast to post its slowest revenue increase in six years. “During the pandemic there was rapid acceleration. I think we’re going to go through a phase today where there is some amount of normalization in demand,” Nadella said in an interview at the World Economic Forum in Davos, Switzerland. “We will have to do more with less — we will have to show our own productivity gains with our own technology.”
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