- Fed minutes highlight divisions over rate cut decision
- Steve McQueen debuts new WWII film at London festival
- Nobel winners hope protein work will spur 'incredible' breakthroughs
- What are proteins again? Nobel-winning chemistry explained
- AI steps into science limelight with Nobel wins
- Overshooting 1.5C risks 'irreversible' climate impact: study
- Demis Hassabis, from chess prodigy to Nobel-winning AI pioneer
- Global stocks diverge as Chinese shares tumble
- Time runs out in Florida to flee Hurricane Milton
- Chad issues warning ahead of more devastating floods
- Creator's death no bar to new 'Dragon Ball' products
- Chinese stocks tumble on lack of fresh stimulus
- Trio wins chemistry Nobel for protein design, prediction
- Braving war: Lebanon's 'badass' airline defies odds
- US weighs Google breakup in landmark trial
- Chinese stocks tumble on stimulus upset, Asia tracks Wall St higher
- 7-Eleven owner confirms new takeover offer from Couche-Tard
- A US climate scientist sees hurricane Helene's devastation firsthand
- Can carbon credits help close coal plants?
- Boeing suspends negotiations with striking workers
- 7-Eleven owner's shares spike on report of new buyout offer
- Your 'local everything': what 7-Eleven buyout battle means for Japan
- AI-aided research, new materials eyed for Nobel Chemistry Prize
- The US economy is solid: Why are voters gloomy?
- Scientists sound AI alarm after winning physics Nobel
- Nobel-winning physicist 'unnerved' by AI technology he helped create
- Trump secretly sent Covid tests to Putin: Bob Woodward book
- Neural networks, machine learning? Nobel-winning AI science explained
- Boeing delivers 27 MAX jets in September despite strike
- Stock markets diverge as Hong Kong sinks, oil prices fall
- US trade gap narrowest in five months as imports slip
- Stay and 'you are going to die': Florida braces for next hurricane
- Geoffrey Hinton, soft-spoken godfather of AI
- Duo wins Physics Nobel for 'foundational' AI breakthroughs
- German 'Maddie' suspect could be free in 2025 after cleared of separate sex crimes
- China slaps provisional tariffs on EU brandy imports
- Duo wins Physics Nobel for key breakthroughs in AI
- German 'Maddie' suspect could be free soon after cleared of separate sex crimes
- China says to take anti-dumping measures against EU brandy imports
- China stocks rally fizzles on stimulus worries amid Asia retreat
- China stocks rally peters out on stimulus worries amid Asia retreat
- Taiwan's Foxconn says building world's largest 'superchip' plant
- Nobel literature jury may go for non-Western writer
- From Bolivia to Indonesia, deforestation continues apace
- China holds off on fresh stimulus but 'confident' will hit growth target
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Will Tesla's robotaxi reveal live up to hype?
RIO | -0.52% | 66.315 | $ | |
CMSC | 0.04% | 24.65 | $ | |
SCS | 1.74% | 13.006 | $ | |
BCC | 0.3% | 142.445 | $ | |
NGG | -0.38% | 65.65 | $ | |
RBGPF | -2.48% | 59.33 | $ | |
BTI | 0.72% | 35.475 | $ | |
CMSD | -0.15% | 24.815 | $ | |
BCE | -0.62% | 33.305 | $ | |
JRI | 0.35% | 13.206 | $ | |
RYCEF | -1.01% | 6.9 | $ | |
VOD | 0.77% | 9.735 | $ | |
RELX | 0.27% | 46.765 | $ | |
GSK | 6.01% | 40.45 | $ | |
AZN | 0.81% | 77.5 | $ | |
BP | 0.01% | 32.034 | $ |
Microsoft says it will axe 10,000 employees over poor economy
Microsoft on Wednesday said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants.
The cuts were "in response to macroeconomic conditions and changing customer priorities," the maker of the Windows operating system said in a US regulatory filing.
The job cuts will affect slightly less than five percent of employees and follow in the wake of similar moves by Facebook-owner Meta, Amazon and Twitter which have announced thousands of layoffs in the once unassailable tech sector.
The firings come after a major hiring spree in the tech industry when the companies scrambled to meet skyrocketing demand for their products as people worked from home and went online for entertainment during the coronavirus pandemic.
Asked about the layoffs just ahead of the announcement, Microsoft CEO Satya Nadella said that "no one can defy gravity" and pointed to high inflation that was affecting economic growth around the world.
"During the pandemic, there was rapid acceleration. I think we’re going to go through a phase today where there is going to be some amount of normalization of that demand," he added at the World Economic Forum in Davos.
Microsoft's filing to the US Securities and Exchange Commission said the cutbacks would result in a charge of $1.2 billion in their next results announcement on January 24.
"It’s important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas," Nadella wrote in a letter to employees, published by the SEC.
M.García--CPN