Microsoft announces fresh job cuts

Microsoft initiated fresh job cuts at the start of its 2024 fiscal year in addition to the 10,000 redundacies already announced on 18 January.

The cuts, which were first reported by GeekWire, were announced to staff internally the day before.

According to the report, however, it was not uncommon for the software giant to restructure parts of its business at the beginning of a new fiscal year.

A spokesperson reportedly said the adjustments "were a necessary and regular part of managing" the business.

"We will continue to prioritize and invest in strategic growth areas for our future and in support of our customers and partners."

Also on 10 July, the company had notified the Washington state Worker Adjustment and Retraining Notification system of 276 cuts.

As of 1545 BST, shares of Microsoft were slipping by 0.61% to $329.80.