It's been a bad few years for tech layoffs,?? ?? ??? and it looks like the trend is only getting worse.
On Tuesday, Microsoft confirmed a CNBC report that it will be laying off three percent of its workforce. Given that the tech giant had around 228,000 employees as of June 2024 (per the news outlet), that amounts to roughly 6,000 members of staff.
SEE ALSO: After mass layoffs, IRS to plug holes with AIMicrosoft reported better-than-expected results in its last quarterly report. In an email to Mashable, a spokesperson outlined that reducing layers of management and streamlining processes are some of the reasons behind the cuts.
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“We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace," the statement read.
These layoffs are just the latest in a long line that have rocked the big tech sector in recent years. A few months back Meta laid off a number of employees as part of a shift to AI, while last summer Intel laid off between 15,000 and 19,000 staff as part of an effort to hit $10 billion in cost savings for 2025.
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It's only been two years since Microsoft itself laid off 10,000 staff members, reducing headcount by almost five percent in 2023.