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Microsoft lay off: Microsoft lays off employees, know what is the reason given by the company

Microsoft Lay off: Recently, many big companies of the world are showing signs of layoffs and are reducing their workforce citing the sound of economic slowdown. This exercise has now reached Big Tech companies. Satya Nadella-run Microsoft has become the first tech giant to lay off employees as part of ‘restructuring’. Layoffs at Microsoft account for about 1 percent of the 1.81 lakh employees in its offices and product divisions.

The reason behind the layoffs was told to the structural adjustment
“Like all companies, we regularly evaluate our business priorities and make structural adjustments accordingly,” Microsoft told Business Television Channel in a statement late Tuesday. “We will continue to invest in our business and increase the overall workforce in the coming year,” the company said. However, this news of layoffs in the company has come for the first time in 5 years.

Microsoft also reduced hiring
Microsoft has also reduced hiring across Windows, Teams and Office Groups. According to the news published in the Times of India, a spokesperson of the company has confirmed the information that yesterday they have worked towards eliminating some employees.

Microsoft slashes earnings and revenue estimates
Microsoft reported strong earnings in its third quarter, with cloud revenue up 26 percent (on-year) and total revenue of $49.4 billion. However, last month, the company revised its fourth quarter revenue and income guidance downwards.

Recently, these companies have cut the workforce
Twitter has also cut its hiring team by 30 percent, while Elon Musk-run Tesla is laying off hundreds of employees. Other tech companies that have slowed hiring include Nvidia, Snap, Uber, Spotify, Intel and Salesforce. Cloud major Oracle recently considered laying off thousands of employees to save up to $1 billion in cost-cutting measures, media reported.

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