Microsoft to shed 10,000 jobs as recession worries cloud tech sector

Published by
Reuters

By Jeffrey Dastin and Yuvraj Malik DAVOS, Switzerland (Reuters) -Microsoft Corp on Wednesday said it would eliminate 10,000 jobs and take a $1.2-billion charge, as its cloud-computing customers reassess their spending and the company braces for potential recession. The layoff, far larger than cuts by Microsoft last year, pile on to tens of thousands of job cuts across the technology sector that’s long past its strong growth during the pandemic. Its shares fell about 1%. The news comes even as the software maker is set to ramp up spending in generative artificial intelligence that is the new br…

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