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Microsoft cutting more jobs


Microsoft is eliminating 10,000 more jobs. Chief executive Satya Nadella said the layoffs would conclude by the end of March. Nadella said customers wanted to optimise their digital spend to do more with less and exercise caution as some parts of the world are in a recession. In addition to severance costs, Nadella said Microsoft would take a USD1.2bn charge as its cloud-computing customers dissect their spending and the company braces for potential recession. Microsoft said the charge in the second quarter of fiscal 2023 represents a negative impact of 12 cents per share profit. Microsoft shares were up less than 1%. Nadella said the company would continue to invest capital and talent in strategic areas, like AI and a service offering OpenAI’s ChatGPT, a futuristic chatbot that has captivated Silicon Valley.

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