Tag: layoff
DAVIDsTEA prelim Q4 sales down ~25% Y/Y, co to temporarily layoff 15% of staff
Microsoft announces $52.7 billion in Q2 revenue amid plans to layoff 10,000 workers
Like many big tech companies, Microsoft is preparing for the worst after announcing plans to lay off 10,000 employees in the upcoming third quarter. It turns out that the company’s second quarter was a mixed bag: It earned $52.7 billion in revenue, which was up 2 percent from last year, but a slight miss from the $52.9 billion analysts expected. Profits also fell by 12 percent to $16.4 billion, a trend that may continue throughout the year.
Despite the faltering PC market, Microsoft has been riding high on cloud revenues for years, and that seems to be continuing. its intelligent cloud business was up 18 percent from last year, reaching $21.5 billion. Microsoft’s belt tightening didn’t stop the company from potentially investing $10 billion more in ChatGPT creator OpenAI, yet another sign that AI is going to play a major role in its future projects. The company plans to add ChatGPT to its Azure OpenAI service soon, and it’s reportedly planning to integrated that technology in Bing.
Microsoft’s More Personal Computing division, which includes Windows, Xbox and PC hardware, fell by 19 percent year-over-year, hitting $14.2 billion. That’s the direct result of the PC market downturn. The company says Windows revenue to manufacturers fell by 39 percent, while Xbox content and services was also down by 12 percent. Devices revenue also dropped by 39 percent — it turns out Surface devices weren’t in huge demand over the holidays.
“The surprisingly strong performance in Microsoft’s key Azure cloud business was enough to ease worries surrounding a steeper deceleration path on cloud optimizations, sending the stock higher,” said Jesse Cohen, senior analyst at Investing.com. “Tech investors are relieved to see that the slowdown across Microsoft’s key cloud business was not as bad as feared.”
Microsoft and Riot the latest gaming/tech companies to layoff staff – 343, The Coalition, Bethesda all affected
Microsoft and Riot Games are facing substantial layoffs, according to recent reports from various sources.
Both companies appear to be following recent trends in the tech industry, which has found itself in turmoil over recent months with downsizing and mass layoffs occurring at various companies across the US.
First reported by CNBC, Microsoft appears to be cutting 10,000 jobs in preparation for slower revenue growth. Last October, it had previously forecast the slowest growth period since 2016, which those at the company have held up as the main reason for this wave of departures.
Microsoft could layoff 11,000 employees: Reports
Just months after laying off nearly 1,000 staffers across its Xbox and Edge divisions, Microsoft is expected to carry out another round of layoffs in the coming weeks, impacting 5% of its workforce, according to a Sky News report.
About 11,000 employees out of Microsoft’s 220,000-strong workforce are expected to bear the brunt of the decision, the report claimed, while citing a Wall Street analyst who predicted that the number could be higher.
Daily Crunch: In layoff update, Amazon CEO tells workers ‘we plan to eliminate just over 18,000 roles’
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Daily Crunch: In layoff update, Amazon CEO tells workers ‘we plan to eliminate just over 18,000 roles’ by Christine Hall originally published on TechCrunch
Amazon To Layoff Over 18,000 Employees
Jassy said that he was hoping to notify all impacted employees prior to his statement, but was forced to comment due to a report in the Wall Street Journal regarding the staff reductions. “We typically wait to communicate about these outcomes until we can speak with the people who are directly impacted. However, because one of our teammates leaked this information externally, we decided it was better to share this news earlier so you can hear the details directly from me,” he said. “We intend on communicating with impacted employees (or where applicable in Europe, with employee representative bodies) starting on January 18.”
Read more of this story at Slashdot.
Amazon to layoff over 18k employees (update)
Somehow, Twitter Finds More Workers to Layoff
As tumbleweeds blow through the empty halls and vacant office spaces of Twitter headquarters, somehow, somewhere, Elon Musk found even more people to fire.