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Amidst the global economic downturns, Microsoft is reportedly joining other tech giants in reducing the amount of the company's working staff. According to Sky News, citing its sources, Microsoft will lay off as many as 5% of its workers. The company's massive team of over 220,000 employees will affect a large group estimated to be close to 11,000 people. In addition, Sky News' Wall Street Analyst source suggests that the people familiar with the matter would not be surprised if the reported figure is higher. If finalized, the decision is expected to be made official by Microsoft's chairman and CEO, Satya Nadella, on January 24.
The company's current market capitalization is $1.79 trillion, making it one of the world's most valuable companies. However, more than the investment in expanding Azure cloud services is needed to offset the stagnating consumer segment where Microsoft dominates with its Windows and Office services, so the company is forced to cut a part of its workforce. We don't have exact details on which segment is getting the highest deduction in staff; however, we expect to hear more at the company's Q4 2022 results call on January 24.
View at TechPowerUp Main Site | Source
The company's current market capitalization is $1.79 trillion, making it one of the world's most valuable companies. However, more than the investment in expanding Azure cloud services is needed to offset the stagnating consumer segment where Microsoft dominates with its Windows and Office services, so the company is forced to cut a part of its workforce. We don't have exact details on which segment is getting the highest deduction in staff; however, we expect to hear more at the company's Q4 2022 results call on January 24.
View at TechPowerUp Main Site | Source