Microsoft announced thousands of job cuts this week, becoming the latest tech company to pluck its workforce as the global economy slows.
The software company confirmed Wednesday its reducing workforce by 10,000 people through the end of the third quarter of the 2023 fiscal year.
The cuts come “in response to macroeconomic conditions and changing customer priorities," the company's CEO Satya Nadella released in a statement to its employees Wednesday.
Microsoft reported the layoffs would affect roughly 5% of its workforce, with some notifications happening as early as Wednesday.
"It’s important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas. We know this is a challenging time for each person impacted," Nadella wrote in the statement. "The senior leadership team and I are committed that as we go through this process, we will do so in the most thoughtful and transparent way possible."
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