Microsoft lays off around 1000 employees
Last Monday, Microsoft officially handed over pink slips to around 1000 employees across numerous divisions. Employees across different teams and levels underwent termination worldwide. This is the third lay-off round of the tech giant Microsoft since July this year. It came as a major shock to the employees, who took to Twitter to announce the sad news.
In an official statement, the company revealed that it only carried out minimal role eliminations. Similar to other companies, they also considered structural changes to meet the frequently changing priorities of the company. Further, they added that in the coming year, the company would rent key areas to fill up positions in the enterprise.
As per a US-based news website, Microsoft is now among the top tech companies that have laid off employees after slowing the hiring process. It wisely pointed out that the layoffs are happing amidst a global market slowdown, fear of funding winter, and recession. Not merely that, it has also come to notice that the hiring process has been frozen except for essential recruitment.
Microsoft is not the only company initiating layoffs. Other giant companies like Meta have decided to cut down costs. Reportedly, it will cut off 12,000 jobs, revealed the Blind. One of the employees of Meta suggested that 15 percent of them have to undergo a stringent performance improvement plan or PIP, and the rest will be fired.