Microsoft to Cut 9,000 Jobs; Austin Impact Unclear

Microsoft is planning to lay off about 9,000 employees. According to reporting by CNBC, the latest layoff round will affect less than 4% of its global workforce.

The impact of the layoffs on the company's Austin-based workforce was unclear. Microsoft employs about a thousand in the city as of 2023, according to a report by Move to Austin.

Microsoft has faced multiple rounds of layoffs this year, beginning with less than 1% of its workforce in January, more than 6,000 jobs cut in May, and at least 300 more in June. The company, which reportedly employed around 228,000 people a year ago, continues to demonstrate strong financial performance despite the reductions.

In its March financial report, the software giant posted $26 billion in net income on $70 billion in revenue, exceeding expectations.

Microsoft stock reached a record high of $497.45 per share on June 26 but fell 0.6% at the start of Wednesday’s trading, while the S&P 500 remained steady.},