Microsoft announced details of a much-rumored round of layoffs, confirming in a filing with the Securities and Exchange Commission (SEC) that 10,000 employees will be impacted as part of "workforce reduction" measures the company is taking in response to "macroeconomic conditions and changing customer priorities."
The news comes as major redundancies continue to permeate the tech industry, with Salesforce recently announcing that it was cutting its workforce by 10%, impacting some 7,000 workers, while Amazon is in the midst of cutting 18,000 from its headcount.
While Microsoft underwent at least a couple of smaller round of layoffs last year, the latest reduction represents a sizable chunk of its workforce — nearly 5% of its 221,000 employees globally. The company said that the layoffs will run from now through to the end of Q3 2023, while it also plans to consolidate some of its office leases to "create higher density across our workspaces."
In terms of severance, Microsoft said that U.S.-based employees will receive "above-market severance pay," though it didn't specify what that means. It also said that those impacted will continue to receive healthcare for six months, career transition services and 60 days' notice prior to termination.
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