Microsoft to cut 700 jobs: anonymous source says

Microsoft to cut 700 jobs: anonymous source says

Microsoft Corp. will announce as many as 700 jobs cuts next week when it will report its quarterly earnings, someone claiming to have direct knowledge of the matter revealed.

Citing the anonymous source, several media outlets reported that Microsoft is planning to conduct another round of layoff and it could the layoff as part of its quarterly earnings report on January 26, 2017.

The reported layoffs would be part of the company’s previously announced plan to slash 2,850 positions. That plan was announced in June last year as part of the company’s annual report. At that time, the software giant had said that it would complete those layoffs by June 2017, which will mark the end of the company’s 2017 fiscal year.

The software giant typically gives laid-off employees sixty days to find a new position internally and offers a couple of weeks salary for every six months they served the company.

The layoffs would not have much impact on Microsoft’s overall headcount as the company has a huge workforce of more than 113,000 people worldwide.

The goal of the reported layoffs isn’t to cut costs; rather it is part of the company’s effort to update skills in different departments. In fact, the Redmond, Washington-headquartered software giant is still hiring, with more than 1,600 job openings posted on LinkedIn.