Microsoft cuts 11,000 jobs in latest staff cull to hit the tech sector


Fears for Microsoft UK jobs as tech titan announces it is to cull 5% of its global workforce

Microsoft is slashing thousands of jobs in the latest staff cull to hit the tech sector.

The US giant is expected to announce plans to cut around 5 per cent of its global workforce, which would equate to around 11,000 staff, although the final figure could end up being even higher.

It was unclear where exactly Microsoft would wield the axe, with the group employing around 6,000 staff in the UK.

Job cuts: Microsoft plans to cut around 5% of its global workforce, which would equate to around 11,000 staff, although the final figure could end up being even higher

Shares in the firm were up 0.5 per cent on Wall Street after the prospective cuts were reported by Sky News.

Microsoft is the latest tech titan to draw up plans for job losses. 

A slew of firms have already announced plans for redundancies as the economy has turned sour.

Earlier this month, Amazon said it would aim to slash 18,000 jobs, equivalent to around 6 per cent of its workforce, while Facebook owner Meta intends to cut around 11,000 roles. 

Meanwhile, social media website Twitter has also moved to eliminate thousands of staff following its takeover by Tesla tycoon Elon Musk.

Many of the tech giants hired thousands of people during the pandemic boom, but the recent slowdown has forced many of them to reassess their plans as consumer spending comes under pressure and borrowing costs rise.

Microsoft publishes its second-quarter earnings next week, with some analysts warning it could disappoint investors.

Microsoft warned in October that its cloud computing business was slowing down as many corporate clients re-evaluated their spending plans.

Read more at DailyMail.co.uk