There have been recent rumours that the software giant Microsoft intends to lay off 5% of its workforce, or about 10,000 people. The company has not yet finalized a date, although it is expected to occur on Wednesday, the day before its quarterly results report the following week.
The memo that was made public this morning states that Microsoft would let go over 10,000 employees by the end of March. In addition to this, tomorrow there will be a lot of layoffs in the company’s engineering section, according to a Bloomberg report. The job layoffs are reported “much bigger” than the 1% reduction in Microsoft’s staff from the previous year.
The company is one of the great IT giants that has been currently experiencing economic hardship and these layoffs are expected to occur after the company completes and adopts a new unlimited vacation policy. The workers with the unused holiday balances will be paid out all at once in April and the supervisors will have limitless “Discretionary Time Off” to approve.
In an interview with CNBC its CEO Satya Nadella said “The next two years are probably going to be the most challenging” which can be seen coming true.
