US tech giant Microsoft Corp is reportedly set to announce 11,000 layoffs, or about 5% of its workforce, British news outlet Sky News reported on Tuesday, citing sources.
The reported layoffs would be the latest in the United States’ technology industry, where companies such as Amazon.com and Meta Platforms have announced layoffs in response to slowing demand.
According to a separate report by Insider on Tuesday, which quoted one person familiar with the matter, Microsoft might cut recruitment employees by up to one-third even as several teams have started a hiring freeze.
Bloomberg also reported on Wednesday that Microsoft plans to lay off employees across several of its engineering teams.
The exact number of employees who would be let go is unknown, but a source familiar with Microsoft’s plans reportedly told the outlet that it would be much higher than in previous rounds of layoffs over the past year.
In October 2022, Microsoft laid off over 1,000 employees across the firm, including those working in its Xbox division.
The company is planning to report its second quarter earnings on January 24.
