Excerpt from Timesofindia Article, Published on July 05, 2024
Microsoft has announced another round of job cuts, reports GeekWire. As the company’s fiscal year ended on June 30, 2024, and a new fiscal year begins, organizational changes across various business units are common. The exact number of layoffs has not been disclosed, but multiple teams and geographies are reportedly affected.
Posts on LinkedIn indicate that the layoffs impact employees in product and program management roles. A Microsoft spokesperson stated, “Organizational and workforce adjustments are a necessary and regular part of managing our business. We will continue to prioritize and invest in strategic growth areas for our future and in support of our customers and partners.”
In June, Microsoft laid off over 1,000 employees across different businesses, with significant cuts in the Azure and HoloLens mixed reality divisions. Earlier, in January, the company announced job cuts affecting nearly 2,000 employees in its gaming unit, months after acquiring Activision Blizzard for $69 billion.
Microsoft’s workforce expanded rapidly during the COVID-19 pandemic. By 2022, the company employed 232,000 people, according to GeekWire’s analysis of regulatory filings and earnings reports. By the end of 2023, the global headcount stood at approximately 227,000.
The tech industry has faced substantial job cuts this year. According to Layoffs.fyi, over 100,000 employees have lost their jobs in the tech sector. Microsoft’s recent layoffs highlight the ongoing challenges and adjustments within the industry.
As the company navigates its new fiscal year, Microsoft aims to balance workforce adjustments with investments in strategic growth areas to support its customers and partners. The tech giant continues to adapt to changing market conditions while prioritizing long-term growth and innovation.
These layoffs reflect broader trends in the tech industry, emphasizing the need for companies to remain agile and responsive to evolving business environments.
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