The software giant Microsoft is laying off about 1,000 workers due to fears of a global economic recession. The company’s revenue growth rate is slowing due to declining sales of Windows licenses for desktop computers. Therefore, to deal with the situation, the initiative of retrenchment of staff has been taken. News Engadget.
A spokesperson for Microsoft said that the initiative to lay off workers has been taken three months ago. This has affected about one percent of the company’s employees.
“Like other companies, we regularly monitor issues that are important to our business and adjust management and structure accordingly,” the spokesperson added.
The world’s leading technology companies are looking for ways to cut costs by laying off workers, fearing a financial meltdown. Several companies, including Coinbase and Netflix, have already laid off workers. In addition, Silicon Valley-based companies like Meta Platforms, Salesforce have reduced the pace of hiring new employees.
