Microsoft CEO Satya Nadella announced today that the company will lay off 10,000 employees as part of an effort to “align our cost structure with our revenue and where we see customer demand.&quo
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Microsoft CEO Satya Nadella announced today that the company will lay off 10,000 employees (opens in new tab) as part of an effort to “align our cost structure with our revenue and where we see customer demand.”
It’s an astounding number of job losses, although it represents a relatively small slice of Microsoft’s total employee count: Nadella said in the memo released today that the cuts constitute less than five percent of the company’s workforce, which is estimated to number roughly 221,000 employees worldwide (opens in new tab).
Some employees will be notified of their dismissal today, but the cuts will continue through the third quarter of Microsoft’s 2023 fiscal year which ends on March 31. Microsoft will take a $1.2 billion expenditure in its current fiscal quarter “related to severance costs, changes to our hardware portfolio, and the cost of lease consolidation as we create higher density across our workspaces.
