It’s the company’s largest round of cuts since laying off 10,000 workers in 2023.
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00:00Despite reporting better than expected quarterly results, tech giant Microsoft announced it will
00:05be laying off roughly 6,000 employees. This marks the company's largest round of job cuts since it
00:10laid off 10,000 workers in 2023. Microsoft told CNBC it continues to implement organizational
00:16changes necessary to best position the company for success in a dynamic marketplace. The company
00:21also said one of the objectives of the layoffs was to reduce layers of management. Microsoft also
00:26let go a small number of workers in January. However, those were performance-based and not
00:30tied to the new round of cuts. Microsoft isn't the only big name to announce layoffs recently.
00:35Cybersecurity firm CrowdStrike announced it would be laying off 5% of employees and luxury fashion
00:40brand Burberry plans to cut 18% of its total workforce by 2027. As of June 2024, Microsoft
00:47had 228,000 full-time employees. That'll do it for your daily briefing. From New York City,
00:53I'm Kelsey Barbario with The Street.