Microsoft will lay off 10,000 workers as spending slows.

Microsoft will lay off 10,000 workers in the latest round of layoffs in the tech industry.

It will affect up to 5% of the company’s global workforce and cost the company $1.2 billion in severance and reorganization costs.

While customer spending increased during Covid, more people are now choosing to “exercise caution,” according to Microsoft CEO Satya Nadella.

He stated that the company would continue to hire in key areas.
Breaking the news in a memo to staff, Mr Nadella said many parts of the world were in recession or anticipating one, while “at the same time, the next major wave of computing is being born, with advances in AI”.

According to the Financial Times, Microsoft is considering a multibillion-dollar investment in OpenAI, the maker of ChatGPT (Generative Pre-trained Transformer).

Leave a Reply

Your email address will not be published. Required fields are marked *