Microsoft reportedly plans to cut 11,000 jobs worldwide, representing about five percent of the total workforce.
The giant employs 221,000 professionals worldwide. The reported layoffs are said to be more significant than any cuts that have taken place in the past year.
Potentially affected departments include HR and various engineering divisions. The first layoffs are expected to be announced today. HR could reportedly lose a third of its recruiters. Microsoft did not comment on the rumours.
Various tech giants announced layoff rounds over the past months. Two weeks ago, Amazon announced significant job cuts, preceded by major rounds at Salesforce and Meta.
Firms often cite the pandemic as a reason. Large tech companies grew at the height of COVID-19 and rapidly hired staffers in response. Now, their inflated workforces have become unsustainable due to economic headwinds.