Microsoft continues layoff, cuts about 1,000 jobs: Report
1 min read . Updated: 18 Oct 2022, 02:12 PM IST
PremiumAmid economic slowdown Microsoft Corporation joined another technology companies by laying off about 1000 employees across multiple departments
Microsoft Corp laid off under 1,000 employees across several divisions this week, Axios reported on Tuesday, citing a source, making it the latest US technology company to cut jobs or slow hiring amid a global economic slowdown.
The layoffs affected less than 1% of Microsoft's total workforce of around 221,000 as of June 30.
The company had said in July that a small number of roles had been eliminated and that it would increase its headcount down the line.
Microsoft did not immediately respond to a Reuters' request for comment on the Axios report.
Several technology companies, including Meta Platforms Inc , Twitter Inc and Snap Inc have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.
Tesla steps up job ads as recession clouds gather
While Elon Musk may be worried about the economy, job openings on Tesla's website suggest the world's most valuable car maker is hiring employees at a quick pace, in nearly every category of job.
Tesla this week listed over 6,900 jobs on its career website, almost a 50% surge since mid-June, when Reuters began tracking the data. That compares to a 2022 peak of over 7,400 job ads in May, according to data similarly tracked by Thinknum Alternative Data and hedge fund Snow Bull Capital.
Chief Executive Musk warned colleagues in early June he had a "super bad" feeling about the economy and said the electric car maker needed to cut jobs. He later tweeted that total headcount would increase over the next 12 months.
Since July, job openings for Engineering & Information Technology, Vehicle Service and Manufacturing led that revival, accounting for the vast majority of listings across 17 categories. Vehicle Service has jumped by over 40% since late June to over 1,600 this week.
This story has been published from a wire agency feed without modifications to the text.
