Microsoft said today it plans to lay off 10,000 employees to “align our cost structure with our revenue and where we see customer demand.” “We are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3. This represents less than 5 percent of our total employees,” said CEO Satya Nadella in a memo to employees posted on the company blog. Microsoft has a June fiscal year, so its third quarter ends in March. The software giant is also taking a $1.2 billion charge. It’s the latest in a wave of layoffs from — Alphabet to Amazon to Facebook — to hit the tech sector last year, with over 150,000 estimated in 2022. That’s due in part to a boom in hiring during the pandemic as demand for digital commerce and services hit a peak, combined with a current economic slowdown including slower demand from PCs to cloud services, and fear of a recession this year. “We are seeing the clock strike midnight for the tech sector … [Read more...] about Microsoft Laying Off 10,000 As Tech Cuts Continue