Tech behemoth Microsoft has gone through a third round of downsizing since July this year. Future US, Inc. Full 7th Floor, 130 West 42nd Street, Microsoft has seen success with its Microsoft 365 subscriptions for consumers, though. This is the third round of layoffs at the Big Tech firm since July. The company is facing slower PC and cloud sales, which could be one of the reasons behind. If it succeeds at cutting staff that work on less profitable products and focusing its efforts on areas of growth, this could be a strong purchase opportunity for investors. Microsoft had fired nearly 1% of its 180,000-strong workforce across offices and product divisions in July as part of a 'realignment'. Between June 2021 and 2022, Microsoft added more than 40,000 people to its payroll. "Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly," a Microsoft spokesperson told CNBC. Laid off employees took . A Division of NBCUniversal. This year, shares of Microsoft have fallen nearly 30%. Investors will be watching the company closely to see if it can refocus its efforts on more profitable technologies and products. March 1Citigroups cuts are expected to affect less than 1% of the companys roughly 240,000 employees, sources familiar with the matter told Bloomberg, after the company reportedly cut another 50 trading employees in November (Citi did not immediately respond to Forbes request for details). We will continue to invest in our business and hire in key growth areas in the year ahead, Microsoft said in a statement to Axios. in July 2022 the software giant confirmed that it cut around 1% of its total headcount. HR will also provide talking points on how to handle impacted employees and how to talk to t, Looks like its started but not in engineering. Microsoft laid off employees across the company, with a person familiar saying it affected under 1,000 jobs. The number of companies anointed unicorn status skyrocketed in 2021, but some of those are beginning to reset their valuation to make peace with the changing venture landscape. He cut 5% of his workforce. This as-told-to essay is based on a conversation with Tiana Watts-Porter, a 25-year-old tech recruiter from Dallas who was laid off from Microsoft. It seems more like a planned thing that was coming anyway and not due to recession Updates: 1. Looks like most affected are consultants and project managers. The big picture: Nearly all the major tech firms have slowed headcount growth, with many freezing all but essential hires. Monday's announcement comes three months after Microsoft said it trimmed less than 1% of employees. With Investment Kits, like the Emerging Tech Kit, investing can be simple and fun. January 31Publishing giant HarperCollins announced it would slash 5% of its staff in the U.S. and Canada as the publisher struggles with declining sales and unprecedented supply chain and inflationary pressures; HarperCollins is estimated to have roughly 4,000 employees worldwide, with more than half of them working in the U.S., the Associated Press reported. Update 1: Managers of impacted folks will be notified the previous day. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Microsoft Corp. on Monday provided an omen. Microsoft, like many other tech companies, recently. January 26Hasbro said it would cut 15% of its global workforce this year (affecting roughly 1,000 full-time employees), as the toymakers revenue fell 17% over the past year against the backdrop of a challenging holiday consumer environment, CEO Chris Cocks said in a statement. I got news from a confirmed higher-up that there would layoffs in Microsoft India. Though cloud growth has slowed as the pandemic has receded, the cloud is likely to remain an area of focus and growth for Microsoft as consumers purchase fewer devices and companies hesitate to invest in their computer equipment amidst high inflation and interest rates. Amazon layoffs. Which groups in Microsoft got impacted yesterday? But, I am afraid about the layoffs that have been happening, and I do not want to let go of a relatively safer current job. January 25Vacasa, the Portland, Oregon-based vacation rental management company announced it would slash 1,300 positions (17% of its staff) in a SEC filing as it moves to reduce costs and focus on being a profitable company, three months after it announced it would cut another 6% of its staff. Why would I be the exception? Sheldon Cooper/SOPA Images/LightRocket via Getty Images, latest round of tech layoffs sweeping the industry, becoming more and more common for tech companies to rely on contractors. Besides that any other group? Windows Central is part of Future US Inc, an international media group and leading digital publisher. Unless the company is making a concerted effort to pivot entirely to these new areas, these kinds of new initiatives are often the first ones cut when times are leaner. If, when times were flush, the company recently decided to explore new lines of business, or expand into new territories, those are tenuous places to work. It's becoming more and more common for tech companies to rely on contractors, and as a person looking for a job, it's often easier to find contract work than full-time work. Include major successes, and the essential summary information you might include when describing your job to an outsider. When announcing the layoffs, the memo also stated, while we are eliminating roles in some areas, we will continue to hire in key strategic areas., As part of the layoffs, the company is taking a $1.2 billion charge related to severance costs, changing its hardware portfolio, and consolidating its leases. Microsoft is due to release an earnings report next week. Heres what you should know, and how Q.ai can help investors (and, in this case, tech investors) amidst mass tech layoffs. Microsoft Layoff 2023? Tc: 201k Yoe: 3, Microsoft decided to change it's policy and start giving employees unlimited time off recently. Follow on Twitter @JezCorden and listen to his Xbox Two podcast, all about, you guessed it, Xbox! After an unfortunate health incident last year, I'm largely responsible for taking care of my mother and I wanted her to know that no matter what happened, she would be taken care of. Anyone knows whens the next layoff date? January 13LendingClub announced it would lay off 225 employees (roughly 14% of its workforce) in a SEC filing, amid a challenging economic environment, as the San Francisco-based company attempts to align its operations to reduced marketplace revenue following seven rounds of Federal Reserve interest rate hikes last year and as concerns persist of a potential recession. January 19Capital One slashed 1,100 technology positions, a source familiar with the matter told BloombergCapital One did not confirm the number of positions that would be cut, although a spokesperson told Forbes that affected employees were told they could apply for other roles in the company. January 23Spotify will lay off 6% of its workforce (roughly 600 employees, based on the 9,800 full-time workers it had as of a September 30 filing) and shares of the firm rose more than 5% in early trading as investors continue to largely digest tech layoffs as positive news for bottom lines, while the companys chief content officer Dawn Ostroff will depart the company as part of the reorganization. All Rights Reserved. as well as other partner offers and accept our. Microsoft Corp. (Nasdaq: MSFT) did not say if and how its reported layoffs across multiple divisions will impact its New England hub. If you're an essential part of building the most profitable product for your company, your layoff risk is low. Microsoft said Tuesday it cut a small number of workers, days after the software maker began its 2023 fiscal year, a time when the company normally announces structural changes. But February still saw around 28,000 U.S. tech employees lose their jobs, making it the third-largest layoff month since the start of 2022. WATCH: Microsoft says it's open to working with unions. Nothing has been announced in the company. If companies don't have loyalty to their employees, we shouldn't have any loyalty to them. Good news: February layoff numbers for the U.S. tech sector were lower than those in January. Microsoft previously said it planned to lay off less than 1% of its 180,000-person workforce as markets sour and the risks of a recession loom. Other redundancies hit the gaming org, the legal department, and the division setting up government bodies with Microsoft tech. It can difficult to judge your layoff risk, but those close to profits are not typically targeted.. Impacted employees are receiving packages that include above-market severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services, and 60 days notice before termination, regardless of whether such notice is legally required., He ended the memo by saying, the start of 2023, its showtime for our industry and for Microsoft. There are so many open positions in Azure and Windows group. Microsoft's Yusuf Mehdi: If customers want a particular chip, we will support them. Find the right companies, identify the right contacts, and connect with decision-makers with an all-in-one prospecting solution. The company is facing slower PC and cloud sales, which could be one of the reasons behind the cuts. That shift has made investors less interested in growth-oriented stocks such as Microsoft, whose shares have declined about 22% since the start of the year, while the larger S&P 500 index is down 19% over the same period. Technology giant Microsoft has sacked around 1,000 people in a fresh round of layoffs, according to US news website Axios. As a contractor at Microsoft, I had an 18-month contract that was dependent on performance, but the layoff ended my contract more than a year early. January 11BlackRock officials reportedly told employees the New York-based company plans to reduce its headcount by 2.5%the company did not immediately respond to a Forbes inquiry for further details, but in an internal memo obtained by Bloomberg, CEO Larry Fink and President Rob Kapito said the move comes amid uncertainty around us that necessitates staying ahead of changes in the market., January 11In a memo to employees, Flexport CEOs Dave Clark and Ryan Petersen announced plans to slash 20% of the companys global workforce (estimated to affect 662 of its more than 3,300 employees, according to data from PitchBook), saying the supply chain startup is not immune to a worldwide the macroeconomic downturn.. Satya Nadella, chairman and chief executive officer of Microsoft Corp., speaks during the virtual Meta Connect event in New York on Oct. 11, 2022. On Wednesday, Microsoft CEO Satya Nadella announced the layoff of 10,000 employees. :D Edit: I think people are too sensitive about the emoticon :D here. He also published a memo titled Focusing on our short- and long-term opportunity., In the memo, Nadella first discussed the turbulent economic times the world is experiencing and referenced the birth of the next major wave of computing as artificial intelligence (AI) continues to advance. New York, Microsoft is laying off hundreds of . But February still saw around 28,000 U.S. tech employees lose their jobs, making it the third-largest layoff month since the start of 2022. Keeping your rsum current can help you not only weather the looming storm, but it will give you confidence that you can bounce back regardless of your layoff risk. Rumor going around there is one more layoff at MS on 2/6. Azure, Webxt, etc? According to TechCrunch,. When I logged into work on Monday, I had several coworkers telling me there were layoffs and they had been affected. #layoffs #micr, ~45 people laid off today from Microsoft Research in Redmond. Making wealth creation easy, accessible and transparent. Microsoft also laid off its entire "modern life" team in August, dedicated to winning consumers back into the Windows ecosystem from competitors like Apple. Sign up for notifications from Insider! Anybody outside USA received the HR email#, I found this article while searching through the interwebs for clues as to who/what teams are being affected. While public companies have spent the last few months zig-zagging in layoffs numbers, startups are still cutting employees at a pretty steady cadence. A number of companies have already moved to cut jobs, including Snap and, as Axios reported yesterday, Flipboard. You'd much rather have it and not need it, than need it and not have it. Fast-forward to February: Large tech companies only made up about 82% of layoffs still the majority by a long shot, but we saw worse in November, when 88% of workforce cuts were driven by public tech firms. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. I started. They just want to ride the layoff wave. It seems more like a planned thing that was coming anyway and not due to recession Updates:1. Crunchbase Daily. In July, Microsoft laid off less than 1% of its staff of 180,000 across departments like consulting and customer solutions, according to Bloomberg. Often people think of staff services like finance, facilities, or human resources when they think of areas of layoff risk. This is Watts-Porter's story, as told to writer Fortesa Latifi. 2023 Vox Media, LLC. A little while ago, Microsoft signaled its intent to lay off "less than 1%" of its workforce in a filing with shareholders, and now it seems that those layoffs are officially taking place. January 243M, the maker of Post-it Notes and Scotch tape, announced it would cut roughly 2,500 global manufacturing positions in a financial report, as chairman and CEO Mike Roman said the company expects macroeconomic challenges to persist in 2023.. The curated list of the most valuable private companies in the world |, Freelance Writers: How To Pitch Crunchbase News, Tech Layoffs: U.S. Companies That Have Cut Jobs In 2022 and 2023, Tech Jobs: These Recently Funded Robotics Startups Are Hiring Humans, January Layoffs Analysis: Job Cuts Spike As Companies Conduct Second Rounds, The Weeks 10 Biggest Funding Rounds: Wiz Wraps Up $300M Raise, Skydio Lands $230M For Drones, The 10 Biggest Rounds Of January: OpenAI Starts Out The Year With A Big Bang, Whos Hiring In Tech This Week? Haje Jan Kamps. Xbox, technology, and government services are all impacted. But just four months later, I've already lost my job to the latest round of tech layoffs sweeping the industry. HR will probably mass flag this post and get it removed. Forgot the most important thing - Looking for referrals as Engineering Manager, please DM me if youre hiring. February 8Nomad Health, a New York-based online healthcare staffing management company, is laying off 17% of its corporate staff (nearly 120 employees), with CEO Alexi Nazem telling workers in a letter obtained by Forbes the move comes as the company is confronting a major shift in the post-pandemic economy due to high inflation, recession fears and low consumer demand. Its also worth noting that, since 2022, about a quarter of public companies that announced layoffs announced additional cuts in the following months. Also when layoffs is going to start in India? Am I overthinking or are the layoffs expected to continue with WLB at these big companies taking a hit? Venture folks tell me investments will start picking up once valuations come down, which were already starting to see. And now, here are the 3 employees most at risk during layoffs. #layoff #microsoft, To all the smarty "TRUST ME BRO" techies out there, can anyone tell me any update on this? A Microsoft spokesperson confirmed the move, which comes three months after the company announced a round of layoffs affecting less than 1% of employees. A good tool is to maintain a personal list of your accomplishments in a running document. 3. Watts-Porter's employment and layoff has been confirmed by Insider, and when asked for comment, Microsoft did not respond. We will continue to invest in our business and hire in key growth areas in the year ahead.". Rivals like Google, Amazon, Facebook have all acquired big consumer apps like YouTube, Twitch, and Instagram, and Microsoft is still trying to align its consumer offerings. For U.S.-focused private companies, February was the second-largest layoff month after November. I stopped believing in it because I know I'm just a number to any company I work for. Tech layoffs were big news in 2022, and that's looking set to continue in 2023, too, with major companies like Amazon and Salesforce already slashing workforces . In fact, for U.S.-focused startups, February was the . Microsoft, which laid off 1 per cent or 1,800 employees in July, has asked around 200 more employees to go, this time from one of its customer-focused R&D projects, the media reported on. January 26Software company IBM announced it would slash 1.5% of its global workforce, estimated to affect roughly 3,900 employees, according to CFO James Kavanaugh, multiple outlets reported, as the company expects $10.5 billion in free cash flow in fiscal year 2023. The cuts . We continue to invest in certain areas and grow headcount in the year ahead." Visit our corporate site (opens in new tab). Facebook and Instagram parent company Meta plans to ask company executives, lawyers and financial experts to devise a plan for a major reorganization that could affect thousands of employees, sources familiar with the matter told the Washington Post, three months after the social media giant cut 11,000 employees in the biggest round of layoffs in 2022. https://www.businessinsider.com/microsoft-layoffs-employees-bracing-for-more-2023-1 https://finance.yahoo.com/news/microsoft-cut-thousands-jobs-sky-185334089.html (Reuters) - Microsoft Corp is contemplating cutting about 5% of its workforce, or about 11,000 roles, U.K broadcaster Sky News reported, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/, Does anyone know if the layoffs also will come with new grad offer rescinds, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/ 166k #severance #layoff #microsoft, Hi All, Asking for one of my friend, which all teams/org/division in Microsoft IDC are affected? January 4San Francisco-based software giant Salesforce will reduce its headcount by 10%, or 7,900 employees, CEO Marc Benioff announced in an internal letter, amid a challenging economic climate and as customers take a more measured approach to their purchasing decisions., January 4Online video platform Vimeo announced its second round of cuts in the past six months, which affect 11% of its workforce (roughly 150 of its 1,400 employees, according to data from PitchBook), with CEO Anjali Sud attributing the companys decision to a deterioration in economic conditions.. Like, you are supposed to get your days off as a payment when you leave the company afaik bit, with unli. January 31HubSpot, a Cambridge, Massachusetts-based software company, said it would cut 7% of its workforce by the end of the first quarter of 2023 in a SEC filing, as part of a restructuring plan, with CEO Yamini Rangan telling staff it follows a downward trend after the company bloomed in the Covid-19 pandemic, with HubSpot facing a faster deceleration than we expected., January 30Philips said it would cut 3,000 jobs worldwide in 2023 and 6,000 total by 2025 after the Dutch electronics and medical equipment maker announced $1.7 billion in losses for 2022, as CEO Roy Jakobs added the company will now focus on strengthening our patient safety and quality management.. as well as other partner offers and accept our. Microsoft is the latest company to announce a large round of layoffs, cutting 10,000 jobs on Wednesday. . Your guess is as good as ours :-). Though many tech firms have reduced their headcount recently, major competitor Apple has yet to announce layoffs. Is it for the next round of layoffs? Investors likely saw signs of financial trouble for Microsoft before the layoffs. Various tech companies are making or are expected to make layoffs in the face of current macroeconomic headwinds, owing to increased costs from inflation, disrupted supply chains stemming from China's Covid-19 policies, and Russia's war of aggression in Ukraine. January 5Crypto lender Genesis Trading reportedly laid off 30% of its workforce, according to the Wall Street Journal, which spoke to unnamed sourcesthe companys second round of cuts since August, lowering its staff to 145. In fact, for U.S.-focused startups, February was the second-largest layoff month after November 2022. ThirdEye's second-gen X2 MR glasses can be . Editor's note: This story has been updated with additional details. And of course, keep it and your rsum on your personal device in case the worst happens without notice. January 20Boston-based furniture e-commerce company Wayfair announced it would cut 10% of its global workforce (1,750 employees), including 1,200 corporate positions, in a move to eliminate management layers and reorganize to be more agile amid reduced salesthe companys latest round of job cuts following its decision to cut 870 employees last August. The company is also in the process of acquiring. Q.ai - Powering a Personal Wealth Movement, Microsoft announced 10,000 layoffs on January 18, 2023, These layoffs come amid a string of similar announcements from other tech businesses, In his announcement, CEO Satya Nadella noted that the company will refocus on secular growth and long-term competitiveness. Moving forward, Microsoft will look to focus its resources on areas of growth while reducing its investments in other areas. The layoffs are expected to include around 1,000 employees. Microsoft originally formed the Modern Life Experiences team in 2018 after a rocky period for its consumer services. its first round of layoffs . Regardless of your layoff risk, keeping your rsum up-to-date is always good advice. We'll update this article with further developments in the coming days. April 27, 2022: Robinhood, the popular investing app, lays off 9% of staff. February 8Yahoo plans to cut more than half of its Yahoo For Business division by the end of the year, affecting more than 1,600 employees, including nearly 1,000 this week alone, according to a company spokesperson, who told Forbes the cuts will simplify and strengthen our advertising business, which has been not profitable and struggled to live up to our high standards.. More risky are the activities considered luxuries, like generous benefits and employee perks, and so on. If you've been affected by the layoffs and want to share your story, please contact me at jez@windowscentral.com or @jezcorden on Twitter. January 26SAP, said it will lay off 3,000 workersaround 2.5% of its global workforcein its earnings call announcing its fourth quarter 2022 results on Thursday, but did not specify where those cuts would be made. Is this the second round or those layoffs are just taking effect now? Stay up to date with recent funding rounds, acquisitions, and more with the
Amazon recently laid off 18,000 employees, while Facebook and Instagram owner Meta cut 11,000 jobs. Judging your layoff risk in these inbetween roles can be difficult. By clicking Sign up, you agree to receive marketing emails from Insider Bonnie Ross, who led the 343i team developing the Halo franchise, famously left the company a few weeks ago following ongoing criticism of Halo Infinite. I think companies are trying to prepare for the worst: a possible upcoming recession. In other words, was a rip-the-bandaid approach taken or is there a storm, 1. As such, contract employees are usually the first out when the tide turns. But when layoffs come, contractors are often the first on the chopping block. Any dates reavelaed? I immediately had a feeling that I was going to be impacted. Another area where you should be concerned is new initiatives. Bad news: Thats not actually saying much. Despite the high-profile layoffs, the U.S. unemployment rate is hovering near a 54-year low at 3.4%, according to the latest government data, as the labor market remains tight. As such, these areas are rarely the source of major cuts in most layoffs. In July, Microsoft called for about 10% revenue growth in the fiscal first quarter, slower than it's been in more than five years. Cutting back on investments in things like the HoloLens and office-based hardware like the Surface Hub are two components of this. Microsofts stock price fell after the announcement, following the markets downward trend for the day. I know of some and it seems like it is more driven by group manager discretion than performance, tenure, or recent hire. On Monday technology industry research group Gartner estimated that PC shipments, a factor affecting Microsoft's Windows operating system business, fell nearly 13% in the third quarter, the most sluggish performance in nine years, in part because of geopolitical issues. three months after the social media giant cut 11,000 employees in the biggest round of layoffs in 2022. Microsoft also faces stiff competition in areas like cloud technology, which could be challenging to overcome. January 31In a statement on Tuesday, online payment company PayPal announced it would cut 7% of its global workforce (2,000 full-time positions) amid a competitive landscape and a challenging macro-economic environment, CEO Dan Schulman said. January 12DirecTVs cuts could affect hundreds of employees, primarily managers, who make up nearly half of the companys 10,000 employees, sources told CNBC, as the company struggles with an increase in the cost to secure and distribute programming, and after the company lost nearly 3% of its subscribers (400,000) in the third quarter of 2022, according to the Leichtman Research Group. Another 15-year vet, Greg Chapman, also tweeted that he'd been laid off. February 16DocuSign unveiled plans to cut 10% of its staff in a Securities and Exchange Commission filing on Thursday, affecting roughly 740 of its 7,400 employeesthe San Francisco-based software companys second round of cuts in less than half a year, after it slashed another 9% of its workforce last November. February 9News Corp, the owner of the Wall Street Journal, New York Post, publishing giant HarperCollins as well as outlets in the U.K. and Australia, plans to slash its workforce by 5% this year (roughly 1,250 employees), the Journal reported, following a 7% revenue drop to $2.52 billion over a 12-month period ending in December. Microsoft layoffs October 2022: The tech giant cuts nearly 1,000 jobs Oct 17, 2022 - Technology Microsoft becomes latest tech firm to cut staff Ina Fried, author of Axios Login Illustration: Natalie Peeples/Axios Microsoft announced layoffs across multiple divisions on Monday, Axios has confirmed. So February, by comparison to the brutal month before, seems relatively tame. January 18 Microsoft's cuts, which affect 10,000 employees . The company with the most rounds of cuts was Peloton, which underwent four separate rounds of layoffs, including one that affected more than 2,800 workers. Multiple laid-off workers turned to Twitter and Blind, among other online forums, to share that their job had been cut.