Microsoft joins layoffs spree; Company plan to FIRE THOUSANDS of employees-- Read details inside

New Delhi: In a move to restructure its staff and generate savings in order to stay competitive, Microsoft may join the layoffs spree soon. As per the reports, the company is looking to restructure its workforce and will be eliminating thousands of positions across several businesses. 6,000 jobs could be eliminated, according to a Reuters report. Although a date is not yet known, it is anticipated that the decision will be announced soon.

According to reports, customer and partner solutions, engineering, and consulting employees would be laid off. In order to "realign business groups and roles," Microsoft is reportedly doing so as its fiscal year comes to a close. Microsoft's income is predicted to slow down and show no discernible regional or product-based patterns during the time of the employment reduction. (Also Read: THESE three finest post office schemes offer better returns; Check calculator, maturity, policy terms, other key details)

As investors grow more concerned about a recession, tech businesses have been making job cuts and slowing hiring as a result. Sky News reports that Microsoft will soon eliminate 11,000 jobs or around 5 percent of its current staff. (Also Read: 10 BIG companies that did MASSIVE lay offs recently)

"From a large picture viewpoint, another looming round of layoffs at Microsoft implies the situation is not improving, and probably continuing to worsen," Morningstar analyst Dan Romanoff commented.

According to Bloomberg, the business intends to make major job cuts this week across several technical divisions, compared to other waves of layoffs from the previous year.

Oracle, Twitter, Tesla, Meta, and Amazon are just a few of the Big Tech companies that have lately made layoffs. Some of these companies have eliminated thousands of employees, while others have decreased their objective for hiring new engineers by as much as 30 percent.