Microsoft Corp. disclosed plans to lay off 10,000 employees this year, or approximately 5% of its workforce, in an effort to combat an increasingly bleak outlook that has already damaged several of the major firms in the technology sector.
Microsoft CEO Satya Nadella wrote a letter outlining the company’s three top priorities and emphasizing the changes the tech industry is through in the face of impending economic uncertainty. Nadella writes that the firm is aligning its cost structure with revenue and customer demand, which will result in a reduction of 10,000 employees by the end of FY23 Q3, representing less than 5% of the overall employee base.
