Microsoft CEO Satya Nadella informed staff in a statement that the business, like many others in the computer sector, would be laying off workers.
Many of the most prominent technology businesses have taken a hit due to the impending recession and the reversal of the epidemic need for technological advancements.
The software giant Microsoft has announced that it would be laying off almost 5% of its staff, or around 10,000 people. Nadella said in an internal message that all layoffs would be finalised by the end of March. Furthermore, Nadella promised that the corporation "would continue to recruit in important strategic areas."
In the message he promised impacted US workers "above-market severance compensation," healthcare for six months, ongoing stock vesting for six months, career transition assistance, and 60 days' notice before their dismissal.
Nadella also revealed the business would record a $1.2 billion charge in its Q2 results, which are expected to be released next week. The expense comes from a number of factors, including layoffs, a shift in our hardware portfolio, and the cost of consolidating leases to increase density in our office space.
Also, READ: LIC New Jeevan Shanti: Pay once, get pension of over Rs 1 lakh per month; eligibility, lock-in period, annuity details
Nadella said at the World Economic Forum in Davos, Switzerland: “During the pandemic there was rapid acceleration. I think we’re going to go through a phase today where there is some amount of normalisation in demand. We will have to do more with less — we will have to show our own productivity gains with our own technology.”
