GallantCEO
Thursday, March 30, 2023
  • Home
  • World
    • Economy
    • Politics
  • Business
    • Markets
    • Personal Finance
    • Entrepreneurship
    • Real Estate
    • US Real Estate News
    • UK Property News
  • Tech
    • AI
    • Cryptocurrency
    • Gadget
    • Virtual Reality
    • Startup
  • Health
    • Mental Health
    • Fitness
  • Interviews
    • VIP Interviews
  • Community
  • Contribute
  • PR Services
Get Interviewed
GallantCEO
  • Home
  • World
    • Economy
    • Politics
  • Business
    • Markets
    • Personal Finance
    • Entrepreneurship
    • Real Estate
    • US Real Estate News
    • UK Property News
  • Tech
    • AI
    • Cryptocurrency
    • Gadget
    • Virtual Reality
    • Startup
  • Health
    • Mental Health
    • Fitness
  • Interviews
    • VIP Interviews
  • Community
  • Contribute
  • PR Services
No Result
View All Result
GallantCEO
No Result
View All Result
Home Tech

Microsoft is laying off 10,000 employees

by GC Journalist
January 18, 2023
in Tech
Reading Time: 3 mins read
Microsoft is laying off 10,000 employees

#image_title

Share on FacebookShare on Linkedin

microsoft said Wednesday that the software maker will lay off 10,000 employees by March 31 as it braces for slowing revenue growth. It has a negative impact of 12 cents on earnings per share.

alphabet, Amazon When Salesforce is one of the tech companies to cut headcount in recent weeks. The contraction comes after increased demand for cloud computing and collaboration services as businesses, government agencies and schools encouraged remote work to reduce exposure to COVID-19.

Rising prices have forced companies to pay more attention to their technology investments, undermining the prospects of tech stocks, which have outperformed other market sectors every year. Currently, Microsoft and its peers are looking at inventory. Microsoft said he would cut less than 1% of his workforce in July, and in October confirmed additional job cuts that allegedly affected less than 1,000 employees.

“We are confident that Microsoft will emerge from this stronger and more competitive one,” Chief Executive Satya Nadella told employees in a memo posted. on the Microsoft websiteThe move will cut Microsoft’s workforce by less than 5%, and some employees will know if they will lose their jobs this week, he wrote.

After the announcement, Microsoft shares edged higher at the US Open.

Workforce adjustments will affect all teams and regions, with a greater impact on sales and marketing than engineering, a company spokesperson told CNBC in an interview.

Eligible U.S. employees will receive above-market retirement benefits, six months of healthcare and stock vesting, and 60 days’ notice of termination, Nadella wrote.

Nadella reiterated trends in the business environment he described in recent months.

“Just like we saw our customers accelerate their digital spending during the pandemic, we are now optimizing our digital spending to do more with less,” he said. writes. “We also know that organizations in all industries and regions are paying attention as some parts of the world are in recession and others are expected to be in recession.”

Nadella suggested earlier this month that the company may need to make changes.

“I don’t think we, as a global company, are immune from what’s happening at the macro level,” he said. interview on CNBC-TV18. “We also need to have our own operational focus to make sure our expenses are aligned with our revenue growth.”

Microsoft is seeking 2% revenue growth in the second quarter of the fiscal year, the slowest pace since 2016.

Gil Luria, a DA Davidson analyst with a buy rating on Microsoft stock, said the job cuts aren’t a big surprise given Microsoft’s cloud infrastructure and Windows operating system sales have been declining over the past several quarters. , said.

Investors are very concerned about the margins of many tech companies, including Microsoft, he told CNBC in an interview.

“All of these companies, especially those that have hired more staff in the last two to three years, need to adapt and respond to an environment of slower growth, with the discipline investors need and the focus on shareholder value. I think there was a broader expectation to show, something we feel now as we navigate an economy of slowing growth,” Luria said.

Evercore ISI analysts have a rating equivalent to a buy rating on Microsoft stock, wrote in a memo to clients.

Massive layoffs at 47-year-old Microsoft don’t happen every year, but they do happen from time to time. In 2017, Microsoft laid off thousands of employees in a major restructuring of its sales division. In 2014, following the acquisition of Nokia’s devices and services business, Microsoft 18,000 cuts Man. The cuts Microsoft announced Wednesday were the biggest since Nokia’s layoffs, said a spokesperson.

Nadella said the claims relate to severance payments, changes to the company’s hardware lineup, and leasing consolidation costs, with Microsoft allocating personnel and funds to growth areas and making divestments in other categories. pointing out that there is

“In order to deliver meaningful innovation that our customers, communities and countries can truly benefit from, each of us and every team across the company will raise the bar and outperform our competitors,” said Nadella. “If we do this, we will be stronger and we will thrive well into the future.It is as simple as that.”

look: Microsoft’s investment in OpenAI won’t match Google Search, tech analyst says

Author

  • GC Journalist
    GC Journalist

    As the in-house writer for GallantCEO.com I prefer to remain anonymous as I do not seek anything from my writing only the self gratification of writing for a good cause such as this.

    View all posts

Tags: employeeslayingMicrosoft

Related Posts

Tesla has installed 3,000 Solar Roof systems in the U.S., study finds
Tech

Tesla has installed 3,000 Solar Roof systems in the U.S., study finds

March 30, 2023
Nintendo extends deadline to redeem 3DS and Wii U eShop codes until April 3rd
Gadget

Nintendo extends deadline to redeem 3DS and Wii U eShop codes until April 3rd

March 30, 2023
840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvNmU4ODIyYTMtZDg3Zi00MmRiLTliNTctY2JhYzYwYmFlNWM0LmpwZwjpg
Cryptocurrency

Projecting ‘Orange Pill’ on banks as EU drives crypto regulation

March 30, 2023
Netflix is testing TV games that can use phones as controllers
Gadget

Netflix is testing TV games that can use phones as controllers

March 30, 2023
840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMWY0MjE1NGQtY2JhOS00ZWUxLTgwMDUtNzdhNDNhNDg0MTM2LmpwZwjpg
Cryptocurrency

Hong Kong fund plans to raise $100 million for crypto investment

March 30, 2023
bf925b7d-8d5e-48c6-b9da-d4417d29aa11jpg
Cryptocurrency

Fair crypto laws ‘possible’ in the US but needs ‘a lot of work’ — Crypto Council advisor

March 30, 2023

Most Viewed Of All Time

  • Trending
  • Comments
  • Latest
Marketing Advice for Startups

Marketing Advice for Startups from 13 Marketing Specialists

March 25, 2023
Lead Generation

The Best Way to Generate Leads and Convert Them into Customers — via 9 Business Leaders

March 28, 2023
John Ferguson

John Ferguson – Audacia Capital plc – Negotiating Winning Deals

March 8, 2023
Chanice Ali 1

Chanice Ali – Onyx Empire Estates LTD – Sourcing High Return Property Investment Opportunities

March 23, 2023
Daniel Chambers

Interview with Daniel Chambers: The Journey from Letting Agent to Music Producer

March 12, 2023
Influencer Marketing Strategy

How to Develop a Successful Influencer Marketing Strategy — from 7 Entrepreneurs

March 28, 2023
HMRC issues winding up petition against estate agent who previously went bust owing £230k

HMRC issues winding up petition against estate agent who previously went bust owing £230k

February 27, 2023
Rune Sovndahl reading the Financial Times

Rune Sovndahl – Fantastic Services – From Entrepreneur To Franchisor

March 21, 2023
Celia Sawyer Luxury Interior Designer

Celia Sawyer – Luxury Interior Designer – Creating Luxury Homes

March 12, 2023
Use This Powerful Theory to Be a Better Leader

Use This Powerful Theory to Be a Better Leader

March 13, 2023
Globe showing map of China

The China Bubble Is Losing Air But Won’t Burst

Ukrainian Children doing school work at their desks

Ukrainian children say they were taken against their will by Russian forces and placed up for adoption in Russia, where the process has been expedited

Xi Jinping

Xi Jinping wins third term as China’s president

Google Gmail

Google improves Gmail search, Chat with search labels, related results

Netflix Price Rise

Netflix opens ‘immersive’ store for fans of popular shows

Dietrich Mateschitz

Red Bull owner Dietrich Mateschitz dies aged 78

Jeff Bezos

Batten down the hatches: Bezos and fellow billionaires are issuing recession warnings

Bank Buildings in London these are financial institutions where earnings are calculated and interest increases are applied

Banks may see higher tax as a price worth paying for economic stability

Uk Housing Sales

UK Housing Sales Fall But Real Horror Story Yet To Come

NFTs Real Estate

How NFTs Could Change Real Estate

Four Ways To Make Your Job Description Superstar-Worthy

Four Ways To Make Your Job Description Superstar-Worthy

March 30, 2023
Tesla has installed 3,000 Solar Roof systems in the U.S., study finds

Tesla has installed 3,000 Solar Roof systems in the U.S., study finds

March 30, 2023
64256435b643e80019df772ejpeg

US Housing Market Is Tanking, Banking Fiasco Darkens Outlook: Friedman

March 30, 2023
What new net zero plan means for consumers, with higher bills on the cards

What new net zero plan means for consumers, with higher bills on the cards

March 30, 2023
Nintendo extends deadline to redeem 3DS and Wii U eShop codes until April 3rd

Nintendo extends deadline to redeem 3DS and Wii U eShop codes until April 3rd

March 30, 2023
840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvNmU4ODIyYTMtZDg3Zi00MmRiLTliNTctY2JhYzYwYmFlNWM0LmpwZwjpg

Projecting ‘Orange Pill’ on banks as EU drives crypto regulation

March 30, 2023
9 Grocery Shopping Mistakes That Will Cost You

9 Grocery Shopping Mistakes That Will Cost You

March 30, 2023
How Struggling Britons Could Unlock £7 Trillion Of Property Wealth

How Struggling Britons Could Unlock £7 Trillion Of Property Wealth

March 30, 2023
6424ed9db643e80019df702fjpeg

Why It’s so Hard for Foreign Companies to Exit Russia: Explainer

March 30, 2023
'The Tories have lost my vote with terrifying reforms', says MS sufferer

‘The Tories have lost my vote with terrifying reforms’, says MS sufferer

March 30, 2023

Recent News

Four Ways To Make Your Job Description Superstar-Worthy

Four Ways To Make Your Job Description Superstar-Worthy

March 30, 2023

Categories

  • AI
  • Business
  • Community
  • Cryptocurrency
  • Economy
  • Entrepreneurship
  • Fitness
  • Gadget
  • Health
  • Interviews
  • Markets
  • Mental Health
  • Personal Finance
  • Politics
  • Real Estate
  • Startup
  • Tech
  • UK Property News
  • US Real Estate News
  • VIP Interviews
  • Virtual Reality
  • World

Site Navigation

  • Home
  • About Us
  • Privacy & Policy
GallantCEO

GallantCEO providing you with Entrepreneur stories from top CEO's, Successful Business Leaders and the latest trending news.

© GallantCEO all rights reserved 2022

No Result
View All Result
  • Home
  • World
    • Economy
    • Politics
  • Business
    • Markets
    • Personal Finance
    • Entrepreneurship
    • Real Estate
    • US Real Estate News
    • UK Property News
  • Tech
    • AI
    • Cryptocurrency
    • Gadget
    • Virtual Reality
    • Startup
  • Health
    • Mental Health
    • Fitness
  • Interviews
    • VIP Interviews
  • Community
  • Contribute
  • PR Services

© GallantCEO all rights reserved 2022

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent.
Cookie settingsACCEPTACCEPT ALL
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.