Deirdre O Meara 
Microsoft has announced that it is cutting 10,000 jobs worldwide in a move to reduce costs and better match lower revenues and reduced customer demand. This move follows the company’s announcement of up to $2 billion in restructuring expenses for its 2020 fiscal year as part of its response to the global economic downturn caused by the COVID-19 pandemic.
The majority of the job cuts will come from sales and marketing positions. The layoffs are expected to cost the company around $1.5 billion in pre-tax charges over the next 12 months. Microsoft also expects that it will be able to reduce operating expenses by around $1 billion annually once these changes have been implemented.
The majority of the job cuts will come from sales and marketing positions. The layoffs are expected to cost the company around $1.5 billion in pre-tax charges over the next 12 months. Microsoft also expects that it will be able to reduce operating expenses by around $1 billion annually once these changes have been implemented.
The tech giant also confirmed that it plans to reallocate resources and investments toward strategic areas such as artificial intelligence, cloud computing, mixed reality, quantum computing, and security. In addition, Microsoft stated that it would continue to invest heavily in digital transformation initiatives for its customers.
