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Apple, Microsoft remain world's top 2 companies by market cap

Microsoft To Lay Off More Employees

Technology corporation, Microsoft is ready to cut more positions from its global workforce as economic conditions becomes tougher in some parts of the world.

This comes as sources on Tuesday reported that tech giants continue to reduce headcount to ride out rough economic conditions.

According to Bloomberg News, the computer industry stalwart could announce layoffs in its engineering divisions as early as Wednesday.

It has also been confirmed that the Washington state-based company, which industry trackers say has more than 220,000 workers, trimmed its ranks of employees twice last year.

However, a new layoff announcement would come a week before Microsoft is to report its earnings for the final three months of last year.

Wedbush analyst Dan Ives in a note to investors said, “Over the last few weeks we have seen significant headcount cut reduction from stalwarts Salesforce and Amazon.”

Wedbush is expecting staff cuts of another 5 to 10 percent across the tech sector, Ives told investors.

Ives also said, “Many of these companies were spending money like 1980’s Rock Stars and now need to reign in the expense controls ahead of a softer (macro-economic conditions).”

Considering the effect of the Pandemic, Amazon announced in early January that it plans to cut more than 18,000 jobs from its workforce, citing “the uncertain economy” and the fact the online retail behemoth had “hired rapidly” during the period.

Interestingly, the job-slashing plan is the largest among recent layoffs that have impacted the once-unassailable US tech sector, including at giants such as Facebook-owner Meta.

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