Microsoft to axe 10,000 jobs, nearly 5 per cent of global workforce
New York, Jan 18: Microsoft announced on Wednesday it is laying off 10,000 workers, almost five per cent of its total workforce, to align its cost structure with revenue and customer demand, the latest company to cut jobs after technology giants like Facebook and Amazon.
Microsoft's Indian-origin CEO Satya Nadella, in communication with employees, said the company will align its cost structure with revenue and customer demand.
"Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs" through the end of the third quarter of fiscal year 2023.
"This represents less than 5 per cent of our total employee base. We know this is a challenging time for each person impacted," Nadella said.
The bloodbath in the tech sector that began last year is continuing into 2023 and Microsoft is the latest technology company to undertake massive layoffs.
Meta, the parent of Facebook, Instagram and WhatsApp laid off more than 11,000 workers or about 13 per cent of its workforce in November.
Amazon is laying off more than 18,000 employees as global economic uncertainty forces companies to trim costs and restructure operations.
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India moving towards becoming global economic powerhouse: Kovind
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Amritsar (PTI): Former president Ram Nath Kovind on Friday said that with digital transformation, economic reforms and a strong focus on the ease of doing business, India is moving towards becoming a global economic powerhouse.
He was speaking after inaugurating the 19th edition of the Punjab International Trade Expo (PITEX) in Amritsar.
The former president said that this 19th edition of PITEX is being organised at a time when India is recognised as one of the fastest-growing large economies in the world.
Speaking at the inaugural ceremony of the event organised by the PHD Chamber of Commerce and Industry (PHDCCI) the former president, while referring to Punjab, said the state is a living example of courage, sacrifice and enterprise.
"The spiritual light of Sri Harmandir Sahib (Golden Temple) inspires peace and humanity across the world. The heritage of Punjab is deep and inspiring," Kovind said, according to a statement issued by the PITEX.
The former president congratulated the PHDCCI for hosting the 19th edition of PITEX and suggested that the chamber should expand PITEX outside Punjab.
He proposed that a similar event should also be held in New Delhi.
