Microsoft Is Laying Off Thousands. Here's What It Means for Investors.
Microsoft (NASDAQ: MSFT) just became the latest tech giant to thin its workforce.
After news broke Tuesday night about layoffs, the software titan confirmed the news Wednesday morning. In a memo to employees shared publicly, CEO Satya Nadella said the company was eliminating 10,000 jobs, less than 5% of its workforce.
Much like Meta Platforms, Amazon, and Salesforce, which have all announced layoffs in recent weeks, Nadella noted the whipsaw effect in the economy, saying that demand for technology accelerated during the pandemic, but has since slowed as much of the world is either in a recession or anticipating one.
Source Fool.com
