From bad to worse: Another massive firing...Microsoft to lay off 10,000 employees!

In yet another blow to the tech workers and aspirants alike, Microsoft has announced that it will lay off 10,000 employees from the firm by the end of March. The announcement has showcased the growing uncertainty of jobs in the tech giants and shockingly, the trend is getting from bad to worse with the experts citing the prevailing unemployability crisis in some of the world's largest blue-chip companies. 

Indian-American executive and Microsoft's CEO Satya Nadella on Wednesday - January 18 said that the company will be making changes that will result in the reduction of overall workforce by 10,000 jobs through the end of FY23 Q3 (third quarter). Nadella further said that some employees will be notified on Wednesday and the entire 10,000 layoffs should be completed by the end of March. 

In a blog post, Nadella said, "It is important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas. We know this is a challenging time for each person impacted. The senior leadership team and I are committed that as we go through this process, we will do so in the most thoughtful and transparent way possible." 

Microsoft currently has more than 2,20,000 employees and this round of layoffs affects around five per cent of its workforce. According to IANS, Microsoft had laid off around 1,000 employees late last year. Nadella said that organisations in every industry and geography exercise caution as some parts of the world are in a recession and other parts are anticipating one. 

Nadella said, "We will treat our people with dignity and respect, and act transparently. These decisions are difficult, but necessary. They are especially difficult because they impact people and people's lives - our colleagues and friends." 

"The US-benefit-eligible employees will receive a variety of benefits, including above-market severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services, and 60 days' notice prior to termination, regardless of whether such notice is legally required", Nadella announced. It is pertinent to note that earlier, big corporates Amazon and Meta had also rolled out such massive layoffs in the wake of global uncertainties.