Microsoft Layoffs Continue: Tech Giant Reportedly Lays Off Unspecified People From Various Departments and Locations To Focus on Future Investment, Increase Profit Margin
This week, Microsoft reportedly initiated another round of layoffs affecting more people from various departments and locations. The latest round of Microsoft layoffs has affected unspecified numbers of people.
San Francisco, July 4: Microsoft has announced a new round of layoffs to optimise its workforce and invest in future growth, according to reports. Last month, Microsoft layoffs affected around 1,000 employees in the Azure Cloud and mixed reality teams. The latest round of Microsoft layoffs has reportedly affected multiple teams and locations. With the latest job cuts, the tech giant will reportedly focus on growth areas such as cloud computing and AI while maintaining its current profit margins.
AI and cloud computing have been growing rapidly as many existing tech leaders and startups have adopted them for their operations. According to reports, the latest round will be a new addition to the ongoing tech layoffs that have reduced around 1 lakh from its workforce since 2023. The reports highlighted that the latest round of Microsoft layoffs began this week. Unacademy Layoffs: After Layoffs, Unacademy CEO Gaurav Munjal Denies Rumours of Merger and Acquisition, Says ‘Ignore the Rumours’.
Microsoft layoffs reportedly affected many employees working on global product and programme management teams after the fiscal year ending on June 30, 2024. Previously, the layoffs Microsoft job cuts affected various departments such as Azure, HoloLens and after Activision Blizzard acquisition for USD 69 billion. The reports emphasised that the practice of laying off employees at the end of the fiscal year had been common among companies.
Microsoft's spokesperson reportedly said that the it was necessary for the company to make organisational and workforce related adjustment as they were the part of regularly managing the business. The spokesperson further added that the company's commitment to its customers and partners remains unwavering, as it continues to prioritise and invest into the areas for its future growth. Layoffs in US: More Workers Laid Off in May 2024 As Job Openings Increased, Says Report.
The reports highlighted that the latest round of Microsoft layoffs was part of a broader strategy of the company to maintain its profit margin amid the rising cost of capital expenditure. The tech giant initiated workforce reductions since the Covid-19 pandemic. It slowed down hiring from 2,32,000 to 2,27,000. So far the company laid 1,00,000 employees The latest job cuts were reportedly aimed at adapting to changing business needs and focus on the future investments.
(The above story first appeared on LatestLY on Jul 04, 2024 03:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).