[eMarketer] Microsoft prepares for second round of layoffs
Microsoft announced layoffs across multiple divisions—and while no official number of job cuts were revealed, a source said it was just under 1,000, per Insider.
Following layoffs in mid-July, which Microsoft said affected sub-1% of its 180,000 employees and were part of its annual restructuring—not tied to the economic downturn—the second round of job cuts is clearly aimed at addressing the broader economic outlook.
Microsoft and other Big Tech companies are bracing for a looming recession by freezing hiring, cutting jobs, and focusing on their most profitable products and services.
Analysts believe that companies with the largest focus on consumer spending will continue to experience a downturn until the end of the year. This includes PC and device makers like Microsoft.
There’s hope for laid-off employees as US startups are keen on gaining tech talent from companies like Meta, Microsoft, and Amazon.
According to eMarketer, any company that relies on harnessing emerging technologies as part of its core business strategy will need skilled tech workers even as we head toward a possible recession.
Read the full eMarketer article here
