The Satya Nadella-led tech giant follows Amazon, Meta and other companies in significantly scaling back its staff.
is the latest technology giant to lay off scores of employees as the entire sector continues to restructure itself in the name of profitability over growth.announced that the company will lay off approximately 10,000 employees, beginning Wednesday. The layoffs, which will be completed by the end of Q3, will represent a bit less than five percent of the company’s workforce.
Nadella said that affected employees will receive “above-market severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services and 60 days’ notice prior to termination, regardless of whether such notice is legally required.”
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft could lay off as many as 11,000 employees this week | EngadgetMicrosoft could announce wide-sweeping layoffs within the next few days, according to separate reports from Bloomberg and Sky News..
Read more »
Microsoft is planning to lay off thousands of employees as soon as tomorrowMicrosoft is planning to lay off thousands of employees on Wednesday in an escalation from the layoffs it announced earlier this year.
Read more »
Microsoft confirms plans to lay off about 10,000 workers as tech companies cut backMicrosoft Corp. confirmed plans to lay off about 10,000 workers Wednesday amid a continued wave of job cuts in the technology sector.
Read more »
Unity Software to lay off more than 200 workers, some projects 'going in the closet'Unity Software Inc. is laying off more than 200 employees, making it the latest technology company to implement staff cuts amid mounting recession fears.
Read more »
8X8 to lay off more than 150 employees by the end of JuneShares of 8X8 Inc. rose 3.3% in premarket trading Wednesday after the business communications services company said it will cut its global workforce by about...
Read more »
Auburn auto supplier to lay off 224 employeesWheel Pros began laying off employees earlier this month, and will continue through March 7. The company has not commented on the move. Wheel Pros is an automotive aftermarket wheel supplier.
Read more »