On Wednesday, microsoft announced it would lay off 10,000 employees in the coming months as the economic downturn continues to punish the US tech giants.
The cuts were ” in responce to macroeconomic conditions and changing customer priorities ,” the maker of the windows operating system said in a US regulatory filing.
The dismall of the employees will affect slightly less than 5% of employees following the wake of similar moves by Facebook-owner meta, Amazon and Twitter which announced thousands of layoffs in the once untouchable tech sector.
The redundancy come after a major hiring spree in the job industry when the companies scrambled to meet hig demands for their products as peole worked from home and went online for entertainment during the Covid-19 pandemic.
When asked about the layoff’s just ahead of the announcements, Microsoft’s CEO Satya Nadella said that” no one can defy gravity” and pointed to high inflation that was affecting economic groeth around the world.
“During the pandemic , there was rapid acceleration . I think we’re going to go through a phase today where there is going to be some amount of normalization of that demand,” he added .
Microsoft’s filing to the US securities and Exchange Commission said the cut down would result in a charge of $1.2 billionin their next results announcement on January 2024.