San Francisco: Microsoft is reportedly readying to cut more positions from its global workforce as tech giants continue to reduce headcount in light of the economic conditions.
According to reports, the company could announce layoffs in its engineering divisions as early as Wednesday.
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The company, which has over 220,000 workers, has already trimmed its ranks of employees twice last year. A new layoff announcement would come just a week before Microsoft is set to report its earnings for the final quarter of 2020.
Other tech giants have also announced staff cuts in recent weeks, with Salesforce and Amazon announcing job reductions.
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Wedbush analyst Dan Ives has predicted that the tech sector could see staff cuts of 5-10% in the coming months as companies try to control expenses in the face of the current economic conditions.