Microsoft Says It's Laying Off 10,000 Workers

MoneyWatch, CBS San Francisco

January 18, 2023

Microsoft is cutting 10,000 workers over the next eight months, the software giant said in a securities filing Wednesday.

The company said the cuts, some of which begin immediately, represent "less than 5 percent of our total employee base."

The company hired rapidly during the pandemic to keep up with intense customer demand. Since 2019, Microsoft added about 75,000 employees, according to Wedbush analysts. But with the economy now slowing and a potential recession on the horizon, Microsoft's customers are trying "to do more with less," the company said.

Click https://www.cbsnews.com/video/... for a CBS News video report.

CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.