Skip to content
Alpha Edge Investing

Alpha Edge Investing

"Investors operate with limited funds and limited intelligence, they don’t need to know everything. As long as they understand better than others, they have an edge.” – George Soros

  • Home
  • Earnings Updates/ Corporate Actions
  • Research – Equities
  • Research – Fixed Income/ Bonds
  • Research – Unit Trust/ ETF
  • News
  • My Opinions/ Views
  • Others
  • About Me
  • Contact
  • Disclaimer
  • Community and Support Forums
  • Toggle search form

Bloomberg: Microsoft Cuts Many Open Job Listings in Weakening Economy

Posted on July 21, 2022July 21, 2022 By alanyeo No Comments on Bloomberg: Microsoft Cuts Many Open Job Listings in Weakening Economy

By Dina Bass

Microsoft Corp. is eliminating many open jobs, including in its Azure cloud business and its security software unit, as the economy continues to weaken.

These hiring cuts will continue for the foreseeable future, Microsoft said, while declining to comment on which departments and businesses are affected. The company said it is honoring job offers that have already been made for open roles and will make some exceptions for critical jobs.

It’s an expansion of a hiring slowdown disclosed in May, which mostly affected its Windows, Office and Teams groups. In June, Insider also  reported cuts to new headcount in the security business. 

The latest slowdown, which was communicated by executives in the groups to their teams, impacts the company’s cloud crown jewels — a key source of growth and investor scrutiny — as well as a newer priority area in security. In the past year, Microsoft brought on longtime Amazon.com Inc. cloud executive Charlie Bell to bulk up its products and strategies for combating hackers and the company considered acquiring cybersecurity firm Mandiant Inc. Now Bell’s ability to bring in new talent has been pared back considerably. 

“As Microsoft gets ready for the new fiscal year, it is making sure the right resources are aligned to the right opportunity,” the company said in an emailed statement. “Microsoft will continue to grow headcount in the year ahead, and we will add additional focus to where those resources go.”

Earlier this month, Microsoft cut less than 1% of its 180,000-person workforce, affecting groups such as consulting and customer solutions, but had said it planned to finish the current fiscal year with increased headcount. The moves follow others in technology. Google Chief Executive Officer Sundar Pichai told staff to expect a hiring slowdown for the remainder of the year. Apple Inc. is also planning to slow hiring and spending at some divisions next year, people familiar with the matter said Monday.

Azure, the No. 2 infrastructure cloud provider, has been trying for years to narrow the gap with larger rival Amazon Web Services. The percentage growth rate of the Microsoft unit remains one of the most closely watched metrics in Microsoft’s quarterly earnings, scheduled for release next on Tuesday. 

Microsoft’s new fiscal year began on July 1. The month is often a period of job cuts and adjustments to hiring, as the company reassesses where it wants to invest. Still, such a broad pullback on hiring plans is unusual and comes as fears of a recession mount, with inflation, the war in Ukraine and the lingering pandemic taking a toll.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
News Tags:Microsoft, MSFT, US Economics, US Economy, US Macro

Post navigation

Previous Post: Bloomberg: Tesla Sells Majority of Bitcoin After Turbulent Crypto Foray
Next Post: Bloomberg: Tesla Beats Profit Estimates, Keeps 50% Target for Output Growth

Related Posts

DBS: Microsoft Corp – Buy target Price US$276.00 Research - Equities
Are We Near the End of the Current Bear Market? My Opinions/ Views
DBS Weekly: All Eyes on US Midterm Elections Research - Equities
DBS: CIO Insights 4Q22 – Fed in Focus Research - Equities
Post FOMC Meeting Commentary My Opinions/ Views
Better late than never! Tighter financial Condition Slowing Growth My Opinions/ Views
PhillipCapital: FAANGM Monthly Research - Equities
PhillipCapital: FAANGM Monthly July 22 Research - Equities
PhillipCapital: Microsoft Corp – Buy Target Price US$332 Research - Equities
‘Bullish guidance heard around the world’: Microsoft jumps 5% as it’s quarterly earnings show resilience amid recession worries Earnings Updates/ Corporate Actions
US Market: Analysts’ calls Research - Equities
Edge: What is stagflation, and why is it such a worry now? News

Leave a Reply

You must be logged in to post a comment.

Login

Log In
Register Lost Password
Get new posts by email
Chat on WhatsApp
  • Earnings Updates/ Corporate Actions
  • My Opinions/ Views
  • News
  • Others
  • Research – Equities
  • Research – Fixed Income/ Bonds
  • Research – Unit Trusts/ ETF

Copyright © 2023 Alpha Edge Investing.

Powered by PressBook Grid Blogs theme