- Microsoft Corp (NASDAQ:MSFT) proposed to cut up to 120 jobs in Germany, business news outlet WirtschaftsWoche.
- The move was a part of the tech company’s global job cuts, Reuters reports.
- Microsoft confirmed downsizing by roughly 10,000 employees in January, equating to 4% – 5% of the total headcount.
- Also Read: Microsoft Bent On Crushing Opposition To Activision Deal, Cuts Yet Another 10-Year Deal With This Semiconductor Giant
- MSFT looked to incur a ~$1.2 billion charge in Q2 to account for the restructuring.
- Contrastingly, social media giant Meta Platforms, Inc (NASDAQ:META) reportedly eyed a fresh round of job cuts that could affect thousands of workers likely in the coming months.
- Meta proposed to push some leaders into lower-level roles, flattening the layers of management between Meta CEO Mark Zuckerberg and the company’s interns.
- Meta targeted divisions across the company and around the world.
- Price Action: MSFT shares traded higher by 0.30% at $252.27 on the last check Thursday.
AI Dream Turns Nightmarish: $190B Wiped Out After After Microsoft, Alphabet, AMD Earnings
This selloff highlighted the high expectations of investors following a recent AI-driven stock market rally that had propelled these companies' shares to record highs.
