Microsoft to lay off around 11,000 employees on Wednesday amid slowing demand: report

Technology giant Microsoft Corporation is set to lay off thousands of employees on Wednesday, according to an ANI report. The company is looking to cut around 11,000 roles i.e. around 5 per cent of its workforce in its recent layoff, adding to the bloodbath being witnessed in the technology world after Twitter, Amazon and Facebook parent Meta significantly trimmed their workforces.

According to an ANI report, Microsoft is expected to cut thousands of jobs in human resources and engineering divisions on Wednesday. The company is following the other tech giants that have announced retrenchment exercises in response to slowing demand and a worsening global economic outlook.

Microsoft to lay off thousands of employees

The layoffs come just weeks after Microsoft CEO Satya Nadella warned that the computer industry would face two years of turmoil. In an interview with CNBC, Nadella recognised that Microsoft was not "immune to global developments" and emphasised the need for efficiency in digital organisations.

After many quarters of a slowdown in the personal computer industry impacted Windows and device sales, Microsoft is under pressure to sustain growth rates at its cloud business Azure. The firm announced in July last year that a small number of positions had been cut. According to the news site Axios, Microsoft laid off less than 1,000 employees across numerous businesses in October last year.

The news of Microsoft laying off its employees comes after reports that the tech giant would not renew its lease at the 26-story City Center Plaza in Bellevue, US, vacating the office amid a tech slowdown with massive layoffs. It is pertinent to mention that as per the company's filing as of June 30, the software giant had 2,21,000 full-time employees, including 1,22,000 in the United States and 99,000 internationally.

(With inputs from ANI)