Microsoft lays off 1,000 employees, citing global slowdown
Jean-Luc Ichard/iStock Editorial via Getty Images


Tech giant Microsoft (NASDAQ:MSFT) has reportedly laid off nearly 1,000 employees across multiple divisions, including Xbox division staff this week - WSJ.
Several Microsoft employees have since confirmed the news on social media.

In July the company said it had plans to cut a number of positions, affecting less than 1% of its total workforce.
âLike all companies, we evaluate 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 year ahead,â a Microsoft spokeswoman said.
Several tech companies have been cutting back on staff, reducing the size of some teams and freezing hiring to tackle slowing growth and fallout from other macroeconomic factors, namely Twitter (TWTR), Netflix (NFLX) and Uber Technologies (UBER).
Last month, Meta Platforms (META) also announced its plans to cut costs by 10% in the upcoming months.
MSFT up 1.4% premarket.