Microsoft laid off several employees across multiple divisions, according to a report from Axios. The tech firm has said that the cuts happened across a variety of levels, across teams and around the world.
Though it did not confirm the total number of people that were let go, under 1,000 people were let go, according to the Axios report citing an inside source.
Employees who were let go took to Twitter and Blind to share that their jobs had been cut or made obsolete. The layoffs at Microsoft point to the ongoing trend towards hiring and expansion. Tech firms have been hit by the cooling economy, causing them to become more conservative about their growth goals.
Thus far, several high profile tech companies have laid off workers in a bid to cut costs. Many have chosen to freeze hiring across all positions except those that have been deemed essential. Companies like Snapchat, Intel, SoundCloud have all cut employees in a bid to stay solvent and meet goals this year. Meta has put a freeze on its hiring and is working towards cutting its budget.
In fact, Intel is seeking to cut up to 20% of the staff across divisions in a market that has seen a significant drop in PC sales.
“Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead,” Microsoft told Axios in a statement.
In July, the company had said that it would let go of 1% of its workforce, which translates to roughly 180,000 employees globally. At the time, Microsoft had said that it expected to see a 10% revenue growth in the first fiscal quarter, slower than the last five years. It will announce its earnings on October 25.