Microsoft Corp lays off under 1,000 employees as global economic slowdown continues

Microsoft Corp has reportedly laid off under 1,000 employees across several divisions this week, according to a report from Axios. This move by Microsoft is in line with other US technology companies that have been cutting jobs or slowing hiring due to the ongoing global economic slowdown.

The layoffs at Microsoft affected less than 1% of its total workforce of around 221,000 employees as of June 30. The company had previously announced in July that a small number of roles would be eliminated, but that it planned to increase its headcount in the future.

While Microsoft did not immediately respond to a request for comment on the Axios report, it is clear that the technology sector is feeling the effects of the economic slowdown. Other companies, including Meta Platforms Inc, Twitter Inc, and Snap Inc, have also cut jobs and scaled back hiring in recent months due to factors like higher interest rates, rising inflation, and energy crises.

In contrast, Tesla seems to be ramping up its hiring efforts despite concerns about the economy. Job openings on Tesla’s website have surged, with over 6,900 jobs listed this week, a nearly 50% increase since mid-June. CEO Elon Musk had previously expressed concerns about the economy and mentioned the need to cut jobs, but later clarified that the company’s total headcount would actually increase over the next year.

The increase in job openings at Tesla is seen across various categories, with Engineering & Information Technology, Vehicle Service, and Manufacturing roles leading the way. The surge in job listings reflects Tesla’s continued growth and expansion plans, despite the challenging economic environment.

It will be interesting to see how these developments in the tech industry play out in the coming months, as companies navigate the uncertain economic landscape.