Microsoft to cut 10,000 jobs as tech layoffs intensify

Published by
Reuters

(Reuters) -Microsoft Corp said on Wednesday it would cut 10,000 jobs by the end of third quarter of fiscal 2023, the latest sign that layoffs were accelerating in the U.S. technology sector as companies brace for an economic downturn. The layoffs will result in a charge of $1.2 billion in the second quarter of fiscal 2023, representing a negative impact of 12 cents on per share profit, Microsoft said. The news of layoffs, reported by media publications on Tuesday, follows some reductions last year. Microsoft said in July last year that a small number of roles had been eliminated, while news si…

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