Microsoft President Brad Smith joins 'Squawk on the Street' to discuss investment in ESG strategies, tech companies cutting labor forces, and Microsoft's investment in fundamental technology . Ex-Microsoft VP of HR on the 3 Employees Most at Risk During Layoffs Microsoft previously said it planned to lay off less than 1% of its 180,000-person workforce as markets sour and the risks of a recession loom. A Division of NBCUniversal. Am I overthinking or are the layoffs expected to continue with WLB at these big companies taking a hit? Access your favorite topics in a personalized feed while you're on the go. Microsoft has experienced some high-profile churn within its organization recently. I hadnt heard this about Azure yet so I thought I would share. WATCH: Microsoft says it's open to working with unions. Despite the high-profile layoffs, the U.S. unemployment rate is hovering near a 54-year low at 3.4%, according to the latest government data, as the labor market remains tight. I don't care if I have to become a delivery driver or start doing Lyft and Uber rides. While public companies have spent the last few months zig-zagging in layoffs numbers, startups are still cutting employees at a pretty steady cadence. Banking giant Citigroup is cutting hundreds of employees in the firms latest round of cuts in the past four months, Bloomberg reported Thursdaymaking it the latest U.S. company to lay off staff, following major cuts this week at Thoughtworks, General Motors, Waymo, Twitter, Palantir and Cerebral. January 4San Francisco-based software giant Salesforce will reduce its headcount by 10%, or 7,900 employees, CEO Marc Benioff announced in an internal letter, amid a challenging economic climate and as customers take a more measured approach to their purchasing decisions., January 4Online video platform Vimeo announced its second round of cuts in the past six months, which affect 11% of its workforce (roughly 150 of its 1,400 employees, according to data from PitchBook), with CEO Anjali Sud attributing the companys decision to a deterioration in economic conditions.. MS Pay is not great either Whats the motivation for layoff? October 18, 2022 at 5:25 p.m. EDT. The layoffs are expected to include around 1,000 employees. https://www.businessinsider.com/microsoft-layoffs-employees-bracing-for-more-2023-1 https://finance.yahoo.com/news/microsoft-cut-thousands-jobs-sky-185334089.html (Reuters) - Microsoft Corp is contemplating cutting about 5% of its workforce, or about 11,000 roles, U.K broadcaster Sky News reported, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/, Does anyone know if the layoffs also will come with new grad offer rescinds, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/ 166k #severance #layoff #microsoft, Hi All, Asking for one of my friend, which all teams/org/division in Microsoft IDC are affected? Haje Jan Kamps. https://www.cnbc.com/2022/10/18/microsoft-confirms-job-cuts-after-calling-for-growth-to-slow.html. Sheldon Cooper/SOPA Images/LightRocket via Getty Images, latest round of tech layoffs sweeping the industry, becoming more and more common for tech companies to rely on contractors. Earlier this week, Microsoft announced major layoffs, with staff cuts planned across multiple divisions. Satya Nadella, chairman and chief executive officer of Microsoft Corp., speaks during the virtual Meta Connect event in New York on Oct. 11, 2022. Include major successes, and the essential summary information you might include when describing your job to an outsider. Sign up for free newsletters and get more CNBC delivered to your inbox. Tue 12 Jul 2022 // 13:30 UTC. Amazon's retail division decreased its 2022 hiring goal as well, Insider reported in May. Microsoft has announced some serious employee layoffs While Microsoft isnt officially commenting on the end of its Modern Life initiative, a Microsoft senior designer revealed there was hard news for the Modern Life Experiences team this week in a LinkedIn post. Historically, Microsoft is pretty quick to jump on the layoff club and start mass layoffs as we saw in 2009 with 5000 people let go. If you're an essential part of building the most profitable product for your company, your layoff risk is low. January 18Amazon, one of the biggest companies in the country, had outlined a plan to eliminate more than 18,000 positions (including jobs that were cut in November) starting January 18 in a message to staff earlier this month from CEO Andy Jassy, who said the company is facing an uncertain economy after hiring rapidly over the past few years. January 26SAP, said it will lay off 3,000 workersaround 2.5% of its global workforcein its earnings call announcing its fourth quarter 2022 results on Thursday, but did not specify where those cuts would be made. After the pandemic, many companies didn't recover the way they wanted to, and one way to adjust for that is to perform layoffs. three months after the social media giant cut 11,000 employees in the biggest round of layoffs in 2022. Heres what you should know, and how Q.ai can help investors (and, in this case, tech investors) amidst mass tech layoffs. Microsoft Lays Off a Team Dedicated to Reinventing Its - Insider Stay up to date with what you want to know. Microsoft has also been cutting open job roles as it slows hiring amid a weakening economy. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. But February still saw around 28,000 U.S. tech employees lose their jobs, making it the third-largest layoff month since the start of 2022. January 19Student loan servicer Nelnet announced it will let go of 350 associates hired over past next six months, while another 210 will be cut for performance reasons, telling Insider the cuts come as President Joe Bidens student debt forgiveness program continues to stall after facing legal challenges from conservative groups opposed to the measure. Data is a real-time snapshot *Data is delayed at least 15 minutes. January 13LendingClub announced it would lay off 225 employees (roughly 14% of its workforce) in a SEC filing, amid a challenging economic environment, as the San Francisco-based company attempts to align its operations to reduced marketplace revenue following seven rounds of Federal Reserve interest rate hikes last year and as concerns persist of a potential recession. Bad news: Thats not actually saying much. Access your favorite topics in a personalized feed while you're on the go. It . Looks like most affected are consultants and project managers.3. And of course, keep it and your rsum on your personal device in case the worst happens without notice. In February, Ericsson laid off around 8,500 workers, while Dell cut 6,650 roles. Looks like most affected are consultants and project managers. May 5, 2022: Cameo, the celebrity shout-out app, cuts 25% of its staff after . Update this list at least once a month to ensure that it's current and your memory of events is fresh. 20-year Microsoft veteran KC Lemson (who also pioneered the much-loved Windows Insider Ninja Cat iconography) tweeted that she was part of the layoffs yesterday. As pandemic fears have receded and businesses reopened, tech payrolls are higher than they need to be to keep operations running. Watts-Porter's employment and layoff has been confirmed by Insider, and when asked for comment, Microsoft did not respond. I know that God is going to see me through. January 23Spotify will lay off 6% of its workforce (roughly 600 employees, based on the 9,800 full-time workers it had as of a September 30 filing) and shares of the firm rose more than 5% in early trading as investors continue to largely digest tech layoffs as positive news for bottom lines, while the companys chief content officer Dawn Ostroff will depart the company as part of the reorganization. Microsoft continues layoffs, sacks nearly 1,000: report Gupta is responsible for Microsoft Teams consumer, Skype, and GroupMe, and hes focused on building consumer experiences across Microsoft. 2023 CNBC LLC. It can difficult to judge your layoff risk, but those close to profits are not typically targeted. Got a confidential news tip? A Microsoft spokesperson confirmed the move, which comes three months after the company announced a round of layoffs affecting less than 1% of employees. Thank you for signing up to Windows Central. 125,000 Laid Off In Major Cuts As Recession Fears Spiked, According To Forbes Tracker (Forbes), Goldman Sachs Will Reportedly Cut More Than 3,000 JobsAs Major Layoffs Continue Into 2023 (Forbes), 46,000 Laid Off In November Alone As Job Cuts Grow (Forbes), Citigroup will reportedly cut hundreds of its, 125,000 Laid Off In Major Cuts As Recession Fears Spiked, According To Forbes Tracker, Goldman Sachs Will Reportedly Cut More Than 3,000 JobsAs Major Layoffs Continue Into 2023, 46,000 Laid Off In November Alone As Job Cuts Grow. We will continue to invest in our business and hire in key growth areas in the year ahead.". A good tool is to maintain a personal list of your accomplishments in a running document. February 9News Corp, the owner of the Wall Street Journal, New York Post, publishing giant HarperCollins as well as outlets in the U.K. and Australia, plans to slash its workforce by 5% this year (roughly 1,250 employees), the Journal reported, following a 7% revenue drop to $2.52 billion over a 12-month period ending in December. February 16DocuSign unveiled plans to cut 10% of its staff in a Securities and Exchange Commission filing on Thursday, affecting roughly 740 of its 7,400 employeesthe San Francisco-based software companys second round of cuts in less than half a year, after it slashed another 9% of its workforce last November. Microsoft Corp. on Monday provided an omen. Amazon layoffs. Data is a real-time snapshot *Data is delayed at least 15 minutes. Messages relating to layoffs at Microsoft Corp. are presented below the company info. Microsoft And Amazon To Layoff A Total Of 28,000 Employees - Why We Are Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers Verified info from MS Internal Blind 2. All Rights Reserved. Plus, Microsoft admitted that the layoffs would cost the business about $1.2 billion in severance and other costs. HoloLens hardware towards commercial customers, Microsoft 365 subscriptions for consumers, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! But it's really difficult to be a contractor, because people don't realize that contractors have just as much if not more experience than full-time employees. https://www.seattletimes.com/business/microsoft-cuts-10000-jobs-about-5-of-global-workforce/ The argument was always, Its pay in exchange for job security. Doesnt seem like that reason to stay holds water anymore. Find the right companies, identify the right contacts, and connect with decision-makers with an all-in-one prospecting solution. The move marks the latest sign of weakness among some of the largest U.S. tech companies amid persistent inflation, recession fears and stock market woes. I'm a senior tech recruiter with eight years of experience who specializes in C-suite and executive recruitment. Business Insider grabbed a statement from Microsoft: "Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. And next layoff coming most likely soon. Microsoft layoffs: The software giant is likely to lay off thousands of employees across human resources and engineering divisions, according to multiple media reports. Microsoft Corp. (Nasdaq: MSFT) did not say if and how its reported layoffs across multiple divisions will impact its New England hub. Microsoft is reportedly laying off its team focused on winning back consumers. February 27Cerebral confirmed the mental-health startup will cut 15% of its workforce (roughly 285 employees) in a statement to Forbes, saying the layoffs are part of a reorganization planthe companys third round of layoffs since last summer, including one round in June that affected 350 employees. Like if you want more updates. Microsoft says staff layoffs not linked to recession fears Recession-proof Microsoft lays off nearly 1,000 employees across the #layoff. I stopped believing in it because I know I'm just a number to any company I work for. Mass layoffs are one of the more painful consequences of a looming economic recession, and the high-flying and well-funded tech industry isn't immune. Microsoft Corp. Layoffs - TheLayoff.com Tech Companies That Have Made Layoffs in 2023 Microsoft had been trying to acquire popular communities over the past couple of years, includingTikTok,Pinterest, andDiscord, to improve its efforts with non-business users. Microsoft Lays Off About 1,000 Employees in Teams Across the Company Moving forward, Microsoft will look to focus its resources on areas of growth while reducing its investments in other areas. Microsoft Layoff 2023? Microsoft is the latest tech firm to make significant layoffs in 2022. . January 20Google parent Alphabet plans to cut around 12,000 jobs worldwide, CEO Sundar Pichai said, citing the need for tough choices in order to fully capture the huge opportunities lying ahead. Follow on Twitter @JezCorden and listen to his Xbox Two podcast, all about, you guessed it, Xbox! We continue to invest in certain areas and grow headcount in the year ahead." Although the company didn't cite the number of layoffs or the divisions impacted, Axios reports that the cuts affected "a variety of levels, teams, and parts of the world," and totaled "under 1,000 workers." Microsoft has spent 2022 curbing some of its job-hiring momentum. Microsoft Is Ending Contracts Early for Hundreds of Workers Some people may find a new job within a week, but other people may be out of work for months. Over 5,000 employees were let go last month, including those from companies such as Pico Interactive, which laid off 400, and Cerebral, which cut 285 employees. Not sure if any other org got laid off. Microsoft: Are Layoffs A Bad Sign For Investors? - forbes.com Just posting this to piss off Microsoft HR, even though I don't work there. Other redundancies hit the gaming org, the legal department, and the division setting up government bodies with Microsoft tech. Azure, Webxt, etc? Any dates reavelaed? January 13Crypto.com CEO Kris Marszalek announced the company, which had more than 2,500 employees as of October, according to PitchBook, will cut 20% of its staff in a message to employees, as the company faces ongoing economic headwinds and unforeseeable industry eventsincluding the collapse of Sam Bankman-Frieds cryptocurrency exchange FTX late last year, which significantly damaged trust in the industry.. Microsoft laid off employees across the company, with a person familiar saying it affected under 1,000 jobs. April 27, 2022: Robinhood, the popular investing app, lays off 9% of staff. It seems more like a planned thing that was coming anyway and not due to recession Updates: 1. Not sure why these companies hire when they cant afford to keep them. February 27Twitter started laying off 200 of the social media giants remaining 2,000 employees in the social media platforms latest round of job cuts, sources familiar with the matter told the New York Times, just weeks after CEO Elon Musk pledged to stabilize the organization following several rounds of layoffs last fall that cut the companys staff of roughly 7,500 by more than half. February 10Twilios cuts, which will affect just over 1,500 of the companys nearly 9,000 employees, according to Pitchbook, come as part of a major realignment planthe companys second in five months, following its decision to slash another 11% of its workforce last September, with CEO Jeff Lawson saying in a message to employees on Monday, its clear that weve gotten too big.. Microsofts stock price fell after the announcement, following the markets downward trend for the day. That same earnings report saw a small 2% increase in device sales, but Microsoft warned that device revenue could drop as much as 30% by the next earnings report. A Division of NBCUniversal. Microsoft layoffs October 2022: The tech giant cuts nearly 1,000 jobs I'm a former VP of HR at Microsoft and have been on both sides of a layoff. The question that investors need to consider is where Microsoft goes from here. More risky are the activities considered luxuries, like generous benefits and employee perks, and so on. Verified info from MS Internal Blind 2. The company with the most rounds of cuts was Peloton, which underwent four separate rounds of layoffs, including one that affected more than 2,800 workers. #microsoft #microsoft layoffs #layoffs #software #engineering. Amazon recently laid off 18,000 employees, while Facebook and Instagram owner Meta cut 11,000 jobs. With Investment Kits, like the Emerging Tech Kit, investing can be simple and fun. Any rumors? But when layoffs come, contractors are often the first on the chopping block. I heard they arent gonna drag it to end of March. Sleeker, more powerful, and redesigned check out the new Lenovo ThinkPad X13 and X13 Yoga, Microsoft is reportedly making anywhere up to 1,000 redundancies, as part of a previously announced "restructuring.". This year, shares of Microsoft have fallen nearly 30%. Microsoft has kicked off a large round of layoffs, affecting various Often people think of staff services like finance, facilities, or human resources when they think of areas of layoff risk. #tech #microsoft, It seems official now. Some, such ase Netflix, Twitter and Peloton, conducted three rounds of layoffs over the course of 14 months. My faith in God gives me hope. What Microsoft's Recent Layoffs Mean For The Company And Investors But that's just not how it works anymore. Microsoft Layoffs News - Microsoft Corp. News from EIN News When I logged into work on Monday, I had several coworkers telling me there were layoffs and they had been affected. Just look at how many high-profile tech layoffs there have been this year: from Better to Tesla to Robinhood to Microsoft. There is usually little excess to cut. Alex Kipman, who created Kinect and led development on Windows Mixed Reality, resigned following reports of inappropriate behavior, with a significant U.S. military contract for HoloLens reportedly on the rocks. Layoffs Microsoft mileiq mobile data labs Apps More layoffs at Twitter, and loyalist Esther Crawford isn't spared Rebecca Bellan 2:07 PM PST February 26, 2023 Twitter has laid off at least. In his memo, Nadella said that the company would continue to invest in strategic areas for our future, meaning we are allocating both our capital and talent to areas of secular growth and long-term competitiveness for the company, while divesting in other areas.. Business Insider now reports that Microsoft is laying off that team, and telling the roughly 200 affected employees to find another position at the company or take severance pay. When I first realized that I may be laid off, I immediately called my mom and we prayed together. Facebook and Instagram parent company Meta plans to ask company executives, lawyers and financial experts to devise a plan for a major reorganization that could affect thousands of employees, sources familiar with the matter told the Washington Post, three months after the social media giant cut 11,000 employees in the biggest round of layoffs in 2022. HR will probably mass flag this post and get it removed.