More Job Losses At Microsoft As Global Slowdown Weighs

  • Microsoft Corp MSFT confirmed downsizing additional workers as its revenue will likely slow due to weaker sales of Windows licenses for PCs.
  • The cuts impacted fewer than 1,000 people, CNBC reported.
  • “Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly,” a Microsoft spokesperson told CNBC. 
  • “We will continue to invest in our business and hire in key growth areas in the year ahead.”
  • The layoffs come three months after Microsoft said it trimmed less than 1% of employees.
  • Also Read: Comcast Shuts Its Television and Online Network Focused On Gaming After Massive Job Cuts
  • In July, Microsoft called for about 10% revenue growth in the fiscal first quarter, slower than it’s been in more than five years. 
  • Microsoft will announce its earnings on October 25.
  • Meta Platforms Inc METASnap Inc SNAP, and Salesforce Inc CRM have also undertaken similar measures to tide through the macroeconomic uncertainties. 
  • Price Action: MSFT shares traded higher by 1.88% at $242 premarket on the last check Tuesday.
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