Microsoft Decides to Fire 10,000 Employees

Lately, times have been challenging for the world economy because of high inflation rates, high-interest rates, and businesses slowing down. Many companies have laid off their employees last year because of unstable economic conditions all over the world.

Amazon, Twitter, Facebook, Tesla, etc have laid off thousands of employees and cut down their workforce.

Now one of the leading tech companies, Microsoft has announced to cut down its workforce and lay off 10,000 workers. It will affect up to 5% of its global workforce and cost the business $1.2bn in severance and reorganization costs.

Microsoft’s business bloomed during the pandemic because of high-intensity remote work and other online activities. However, after the pandemic, the company only hired 40,000 showing a decline in workforce.

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