Microsoft is cutting 3% of its workforce

Microsoft CEO Satya Nadella leaves after attending a meeting with Indonesian President Joko Widodo at the Presidential Palace in Jakarta, Indonesia, on April 30, 2024. Microsoft on Tuesday said that it's laying off 3% of employees across all levels, teams and geographies. "We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace," a Microsoft spokesperson said in a statement to CNBC. The company reported better-than-expected results, with $25.8 billion in quarterly net income, and an upbeat forecast in late April. Microsoft had 228,000 employees worldwide at the end of June, meaning that the move will affect thousands of employees. It's likely Microsoft's largest round of layoffs since the elimination of 10,000 roles in 2023. In January the company announced a small round of layoffs that were performance-based. These new job cuts are not related to performance, the spokesperson said. ... Read full article.