Microsoft will be making 10,000 job cuts by the end of the third quarter of this year, the company said today confirming earlier reports.
As incomes at Big Tech firms continue to decline, Microsoft has joined giants like Google and Twitter in laying off staff.
Earlier today, Microsoft issued a statement, saying that the staff cuts were necessary to balance the company’s short and long term goals.
Microsoft stated that the layoffs will result in a charge of nearly £1 bn ($1.2 bn) and would impact less than five percent of the company’s current workforce.
On Wednesday, speaking at the World Economic Forum, Nadella had said that the company was not immune to a weaker global economy.
“No one can defy gravity and gravity here is inflation-adjusted economic growth,” he said.
This is the third round of layoffs announced by the company.
There are no indications of how many Microsoft UK employees will be impacted by the job cuts.