Global News published this video item, entitled “”Rightsizing”: Experts weigh in on Microsoft, tech industry job cuts” – below is their description.
Microsoft on Wednesday said it would eliminate 10,000 jobs and take a $1.2-billion charge as its cloud-computing customers dissect their spending and the company braces for a potential recession.
The layoff, far larger than cuts by Microsoft last year, pile on to tens of thousands of job cuts across the technology sector that’s long past its ceaseless growth during the pandemic.
“I think this was largely expected. I think that many companies are rightsizing their staff for what’s likely to be a more incrementally challenging period in demand from the macro economy versus the last two years,” said Alex Zukin, a managing director at Wolfe Research.
“So, while it does sound like a large number, it likely isn’t, as you know, as impactful as maybe, you know, something like a 20 per cent cut that you’ve seen some other companies do that are much, you know, I would say more, more secularly impacted,” Zukin added.
“The future is very bright, and we see a lot of opportunities for Microsoft to continue to gain share versus the competition,” Zukin said.
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