Microsoft to layoff 6,000 employees

It’s the company’s largest round of cuts since laying off 10,000 workers in 2023.

Transcript

00:00Despite reporting better than expected quarterly results, tech giant Microsoft announced it will

00:05be laying off roughly 6,000 employees. This marks the company's largest round of job cuts since it

00:10laid off 10,000 workers in 2023. Microsoft told CNBC it continues to implement organizational

00:16changes necessary to best position the company for success in a dynamic marketplace. The company

00:21also said one of the objectives of the layoffs was to reduce layers of management. Microsoft also

00:26let go a small number of workers in January. However, those were performance-based and not

00:30tied to the new round of cuts. Microsoft isn't the only big name to announce layoffs recently.

00:35Cybersecurity firm CrowdStrike announced it would be laying off 5% of employees and luxury fashion

00:40brand Burberry plans to cut 18% of its total workforce by 2027. As of June 2024, Microsoft

00:47had 228,000 full-time employees. That'll do it for your daily briefing. From New York City,

00:53I'm Kelsey Barbario with The Street.