Microsoft is set to lay off thousands of employees today, reports suggest. The layoffs would be the latest in the US technology sector, where companies including Amazon.com Inc and Meta Platforms Inc have announced retrenchment exercises in response to slowing demand and a worsening global economic outlook.
Microsoft is under pressure to maintain growth rates at its cloud unit Azure, after several quarters of the downturn in the personal computer market hurt Windows and devices sales, reported Reuters. The news agency reported citing sources that thousands of roles would be cut, with the software giant looking to reduce around 5 per cent of its workforce or about 11,000 roles.
The internet has reacted to Microsoft's announcement about layoffs with memes, in an attempt to pull down stress. Check memes:
