Microsoft is planning to cut thousands of jobs in the latest workforce cull by a major technology company as the economy slows, according to a report.
Microsoft employs more than 220,000 people globally, including roughly 122,000 people in the U.S., Microsoft declined to confirm Sky's report, telling CBS News it doesn't comment"on rumor."
Major technology players including Amazon, Meta and Twitter have also shed thousands of jobs in recent months. In December alone, tech sector companies cut more than 16,100 jobs, according to outplacement firm Challenger, Gray and Christmas. The industry shed the most jobs of any sector last year, eliminating 100,000 positions in 2022.give all of its U.S.-based employees unlimited time offMany economists expect the U.S.
"Our outlook for the U.S. economy in 2023-24 continues to include a mild recession, but we have pushed back the timing of the downturn," BofA Global Research analysts said Tuesday in a report."We still see the downturn as driven mainly by tighter monetary policy, causing the current investment-led slowdown to broaden into a consumer spending slowdown."
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