Microsoft cuts 4% of staff - Company reduces costs and focuses on artificial intelligence
Microsoft will lay off about 4% of its global staff to cut costs. The move comes as the company ramps up investment in artificial intelligence.
Microsoft announced it will lay off nearly 4% of its workforce as the tech giant seeks to rein in costs while ramping up its massive investment in artificial intelligence infrastructure.
The company, which had about 228,000 employees worldwide as of June 2024, had announced layoffs in May, which would affect about 6,000 workers.
The Windows maker had pledged $80 billion in capital spending for fiscal year 2025. However, the rising cost of artificial intelligence infrastructure has impacted its cloud margins for the June quarter, which are expected to shrink from last year.
Microsoft said it plans to reduce organizational layers, reducing the number of managers and improving products and procedures.
Bloomberg News reported that Microsoft's Barcelona-based King division, which makes the video game Candy Crush, is cutting 10% of its staff, or about 200 jobs. Microsoft confirmed that its gaming division was affected by the job cuts, but did not provide further details.
Big tech peers, which are investing heavily in artificial intelligence, have also announced similar measures. Facebook's parent company, Meta, said this year it would cut about 5% of its "lowest performers," while Google also laid off hundreds of employees last year.
Economic uncertainties and rising costs have brought cuts across all sectors of American companies, as corporations rush to improve operations and protect themselves from further spending pressures.
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