Tech giant Microsoft is set to lay off nearly 11,000 employees this week as the company joins other tech firms in reducing their workforce during the global economic slowdown.
According to reports, the company is finalizing plans to cut 5% of its workforce, which would equate to around 11,000 jobs. The layoffs are expected to be announced ahead of the company’s quarterly earnings next week.
Microsoft CEO Satya Nadella recently warned of two years of challenges ahead for the tech industry and admitted that Microsoft was not immune to the global changes.
Other large tech companies such as Amazon and Salesforce have also recently laid off employees.
Tech workers have been hit hard by the current economic situation, with over 1,600 tech employees being laid off per day on average globally in 2023, and 91 companies laying off more than 24,000 tech employees in the first 15 days of this month alone.
