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Microsoft fires nearly 1,000 employees, joins Apple & Snap in cost cut move
Microsoft joins the likes of Big tech giants like Apple, Meta, Snap and others which have opted for hiring freeze or job cuts this year.
Technology giant Microsoft has reportedly fired nearly 1,000 employees across multiple divisions, joining the likes of Flipboard and Snap who have resorting to job cuts to contain slowdown.
The creator of Windows in a statement to a US-based website Axios said like all companies it evaluates business priorities and make structural adjustments accordingly. Microsoft added that it will continue to invest in its business and hire in key growth areas. In July, the tech giant had said that a small number of roles had been eliminated and it would increase its headcount down the line.
Several big tech companies have either opted for hiring freeze or job cuts to check slowdown. Last month, social media behemoth Meta's chief executive officer Mark Zuckerberg during a weekly Q&A session with employees announced the company would cut budgets across most of the teams. He said the company will freeze hiring and restructure some teams to trim expenses, Bloomberg reported.
In August this year, iPhone maker Apple sacked about 100 contract-based recruiters as part of its push to rein in its hiring and spending, Bloomberg reported. In the same month, multimedia platform Snapchat too decided for job cuts ‘in an effort to refocus the business on growing ad revenue'.
In a mail to the employees which was accessed by Bloomberg, Snap CEO Evan Spiegel said it had become clear that the company must reduce the cost structure to avoid ‘incurring significant ongoing losses’.
“As a result, we have made the difficult decision to reduce the size of our team by approximately 20%. The scale of these changes vary from team to team, depending upon the level of prioritization and investment needed to execute against our strategic priorities”, Spiegel's mail read.
