Illustration: The Verge
Microsoft is announcing big job cuts today, affecting 10,000 employees. In a memo, Microsoft CEO Satya Nadella says the company will be “making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3.”
Some employees will be notified today, but the entire 10,000 layoffs should be completed by the end of March. While Microsoft is making cuts, Nadella says the company “will continue to hire in key strategic areas.” Affected US employees will receive “above-market severance pay,” healthcare coverage for six months, continued vesting of stocks for six months, career transition services, and 60 days’ notice prior to termination.
Microsoft currently has more than 220,000 employees
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