Microsoft Corporation Apple said on Wednesday it would cut 10,000 jobs by the end of the third quarter of fiscal 2023, the latest sign that layoffs in the US technology sector are accelerating as companies brace for an economic downturn.
Microsoft said the hardware-portfolio and other changes would result in a $1.2 billion charge in the second quarter of fiscal 2023, representing a negative impact of 12 cents on profit per share.
In a note to employees, shared with Reuters, Microsoft Chief Executive Officer Satya Nadella said customers want to “customize themselves”.
to do more with less digital spending” and “use caution as some parts of the world are in a recession And others are looking forward to part one.
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News of the layoffs reported by media publications on Tuesday comes after some cutbacks last year.
Microsoft said in July last year that some roles had been eliminated, while in October news site Axios reported that the company had laid off fewer than 1,000 employees across multiple divisions.
The Satya Nadella-led firm is also battling a slump in the personal computer market following a pandemic boom that has reduced demand for its Windows and its accompanying software.
(Reporting by Jeffrey Dastin in Davos and Yuvraj Malik and Akash Sriram in Bengaluru; Editing by Shinjini Ganguli and Nick Zieminski)