Microsoft Could Announce Thousands of Layoffs Later Today

Over 10,000 employees could suddenly lose their jobs.

Microsoft is reportedly going to cut around 5% of its workforce, which makes up over 10,000 employees, later today. Bloomberg reports that the company is set to rid itself of thousands of jobs in a number of engineering divisions.

The announcements will be made later today, Wednesday the 18th of January, it is expected, though we aren't going to be sure of the scale of the cuts until Microsoft reveals them.

In October 2022, Microsoft made another lot of layoffs, cutting about 1,000 people from its workforce. This time, it is expected that a much greater amount of people are set to lose their jobs.

This could be tied to Microsoft's second quarter earnings report, which is set to be revealed on the 24th of January, but nothing has been cleared up about that yet. Stay tuned as we look to find out more about this unfolding situation.