Latest news with #workforce
ABC News
an hour ago
- Business
- ABC News
Live markets updates: Microsoft axing jobs in Australia, while Wall Street rises on Trump-Vietnam trade deal
The tech giant Microsoft is cutting 4 per cent of its global workforce, including in Australia. Meanwhile, another Magnificent Seven is struggling with EV sales. Here in Australia, the Qantas cyber attack fall-out will continue on Thursday. The ASX is predicted to drop despite Wall Street being up overnight on a US-Vietnam trade deal. Follow the day's financial news and insights from our specialist business reporters on our live blog. Disclaimer: this blog is not intended as investment advice.
The Independent
4 hours ago
- Business
- The Independent
Thousands of jobs to be axed at Microsoft
Microsoft announced plans to eliminate approximately 9,000 jobs worldwide as part of its ongoing efforts to reduce costs. These redundancies affect less than 4 per cent of the company's total global workforce. The cuts are intended to implement organisational changes, remove layers of management, and increase agility and effectiveness. Microsoft's gaming business is among the areas where work will be ended or decreased. This marks the latest significant round of layoffs, following 10,000 cuts in early 2023, 6,000 in May, and 1,000 in January, reflecting a broader trend in the technology sector.
Geek Wire
5 hours ago
- Business
- Geek Wire
Microsoft cuts 830 jobs in Washington state — less than 10% of latest global layoffs
A Microsoft sign on the company's Redmond campus. (GeekWire File Photo / Todd Bishop) It looks like Microsoft's latest job cuts won't hit its home state quite as hard. The Redmond, Wash.-based tech giant is laying off 830 workers in Washington state as part of the approximately 9,000 global job reductions that the company made Wednesday, according to a filing with the state Employment Security Department. That amounts to about 9% of the global job cuts in its latest round. By comparison, Microsoft laid off 1,985 workers in the state in mid-May — representing about a third of the 6,000-person reduction in its global workforce at the time. In the meantime, in early June, the company laid off an additional 305 people in Redmond. All told, that means the company has now cut more than 3,100 jobs in Washington state in less than two months. Microsoft employed around 54,000 people in the Seattle region before the latest reductions, part of a worldwide workforce that numbered about 228,000 people as of June 2024. Globally, the approximately 9,000 layoffs in the latest round represent about 4% of Microsoft's workforce. Microsoft has not directly linked the layoffs to its AI strategy. However, earlier reports indicated that software engineers were hit hardest in the May layoffs — coinciding with the company's growing investment in AI tools designed to automate coding and streamline development. A company spokesperson said Microsoft is continuing to implement 'organizational changes necessary to best position the company and teams for success in a dynamic marketplace.' Impacted employees were notified about the latest layoffs Wednesday morning. Divisions impacted included sales and gaming, as rumored in advance, but the layoffs hit teams and groups across the company.
Yahoo
7 hours ago
- Business
- Yahoo
Microsoft Plans to Lay Off Thousands of Workers in Latest Round of Cuts
Microsoft said Wednesday it plans to lay off nearly 4% of its workforce, impacting an estimated 9,000 workers. The news comes just weeks after a reported 3% cut to its workforce affecting roughly 6,000 people. Microsoft and its big tech peers are facing pressure to trim headcounts as they ramp up spending on artificial (MSFT) plans to make more cuts to its global workforce, affecting thousands of workers. The tech titan plans to slash its headcount by nearly 4%, Microsoft confirmed to Investopedia Wednesday. The cuts could impact an estimated 9,000 workers, and primarily affect sales teams, according to reporting from Bloomberg. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' a Microsoft spokesperson told Investopedia. The latest cuts come just weeks after a reported 3% workforce reduction affecting roughly 6,000 employees. CFO Amy Hood told analysts during the company's earnings call in April that Microsoft was "building high-performing teams and increasing our agility by reducing layers with fewer managers." The company employed some 228,000 employees worldwide as of the end of fiscal 2024, with around 120,000 in the U.S., according to a regulatory filing. Microsoft, along with many of its big tech peers, faces pressure to lower its headcount as it ramps up investments in AI. D.A. Davidson analyst Gil Luria told Investopedia last month that for every year Microsoft continues to invest at current levels, the company could be pushed to eliminate roughly 10,000 positions or allow them to go unfilled. Many of Microsoft's big tech peers, including Google parent Alphabet (GOOGL) and Amazon (AMZN), have also made recent cuts. In June, Google extended buyout offers to U.S. employees across the company, expanding the scope of buyout offers earlier in the year. Shares of Microsoft were little changed in recent trading. They have gained about 17% in 2025 so far. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
7 hours ago
- Business
- Wall Street Journal
Microsoft to Lay Off About 9,000 Workers
Microsoft MSFT 0.09%increase; green up pointing triangle plans to cut about 9,000 workers in its latest round of major layoffs. The cuts represent less than 4% of its global workforce, and span levels, geographies, tenure and teams, including its gaming segment.
