January 20, (THEWILL) – Microsoft is reportedly set to fire nearly 11,000 employees this week amid the global economic slowdown.
According to Sky News, the company is “finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown.”
The company’s contemplating reducing roughly 5 percent of its workforce, “which translates to approximately 11,000 jobs”.
The company will likely announce layoffs on Wednesday, ahead of its quarterly earnings next week.
Satya Nadella, Chief Executive Officer, Microsoft Corp, recently warned of two years of challenges ahead for the tech industry.
In an interview with the media, he admitted Microsoft wasn’t “immune to the global changes”.
“The next two years are probably going to be the most challenging,” said Nadella.
In recent weeks, a slew of large tech companies have laid off employees, with Amazon slashing 18,000 jobs.
More than 1,600 tech employees are being laid off daily on average in 2023 globally including in India, and the sacking episodes have gained speed amid the global economic meltdown and recession fears.
About the Author
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
