Tech company (NASDAQ: MSFT) initiated a round of layoffs on Monday, just after the company's new fiscal year started. The news is interesting following a surge in the prices of many tech stocks, evidenced by the tech-heavy Nasdaq Composite's 31 % year to date gain. Microsoft's gains have been even stronger, with shares rising an incredible 39%. Could Microsoft's latest round of layoffs suggest that hype in the sector has gone too far?

Overall, investors would be wise to refrain from giving the company's latest layoffs too much weight. But given how staggering returns have been in tech this year, it's worth considering what Microsoft is saying about these layoffs.

News broke early this week that Microsoft is cutting jobs. While it's not certain how many jobs were wrapped up in total, a filing in Washington did reveal that the company is eliminating at least 276 jobs in the state. 

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Source Fool.com