Microsoft is readying to cut more positions from its global workforce as tech giants continue paring headcount to ride out rough economic conditions, according to media reports. | AFP
A new layoff announcement would come a week before Microsoft is to report its earnings for the final three months of last year.
Wedbush is expecting staff cuts of another 5 to 10 percent across the tech sector, Ives told investors. Amazon announced in early January that it plans to cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail behemoth had “hired rapidly” during the pandemic.
Some of the Amazon layoffs would be in Europe, CEO Andy Jassy in a statement to staff, adding that the impacted workers would be informed starting on Wednesday, January 18.Major platforms with an advertising-based business model are facing budget cuts from advertisers, who are reducing expenses in the face of inflation.
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