Microsoft is shedding 10,000 staff, almost 5 per cent of its workforce. This drastic move is in response to macroeconomic conditions and changing customer priorities.
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The company said in a regulatory filing on Wednesday that had just notified employees of the layoffs, some of which begin immediately.
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The company said it will also be making changes to its hardware portfolio and consolidating its leased office locations — all of which are designed to save about USD 1.2 billion.
(With agency inputs)