Microsoft Corp said in a statement that it has cut off their manpower over geographies and teams from July 1st which is the starting of the new fiscal year.
Software behemoth declined to comment on the roles and location that had been effected through this decision. Previously some media reports also claimed that Microsoft had cut 1000 jobs over all its business in a week.
According to a report, the cut in roles comes at a time when company news portal MSN.com has shifted to an Al-powered algorithm feed. It also added that there were job losses in the Microsoft Azure cloud division too.
Microsoft last month also announced that will be closing their retail stores thereby taking a pre-tax asset impairment charge of worth $450 million during this ongoing Covid-19 crisis.
Microsoft spokesman also said that it’s very usual for a company to re-examine its venture every new fiscal year. The same was repeated by the company in 2017 when there was a reorganization of factors that affected their sales and marketing teams.
The company’s third-quarter result announced in late April got the better of Wall Street sales and profit expectations. This all was because of a rise in demand for Teams chatbox, online meeting app, and Xbox gaming services as people across the globe shifted to work from home because of the pandemic.
In figures in the third quarter, there was an increase in company revenue by 15% to $35.02 billion, while it’s net income rose to $10.75 billion or we can say $1.40 per share.