Microsoft to cut nearly 1,000 jobs: reports

Microsoft Corp is laying off nearly 1,000 workers across multiple divisions, according to news reports Monday.

Axios And the interested in trade The cuts were reported late on Monday. Sources told news organizations that the number of layoffs was under 1,000, covering different regions and departments — including Xbox and Edge. Microsoft MSFT,
+ 3.92%
It has about 221,000 employees worldwide, according to its website.

In an email to MarketWatch, a Microsoft spokesperson confirmed the accuracy of the reports, adding: “Like all companies, we assess our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the coming year.”

Microsoft is clearly the latest major tech company to cut staff amid fears of a looming recession. A parent’s Snapchat Snap SNAP,
+ 6.01%
recently announced It plans to cut 20% of its employees; Intel Corp. INTC,
+ 1.97%
It said laying off thousands of workers at the end of the month; And companies including Apple company
AAPL,
+ 2.91%And the
Oracle Corporation
ORCL,
+ 4.21%
And the Beyond Meat Inc
BYND,
+ 0.64%
They also cut jobs, while Meta Platforms Inc. META of Facebook,
+ 5.74%
announce Hiring Freeze Last month.

A recent report has been found by KPMG 51% of CEOs surveyed said they are considering downsizing their workplace In the next six months.

Microsoft is scheduled to release quarterly earnings on October 25.

Microsoft shares are down nearly 30% since the start of the year, compared to a 17% drop this year by the Dow Jones Industrial Average DJIA,
+ 1.86%And the
It is one of its components.

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