By coinnews 
00:00 Speaker A
Let’s check in on shares of Microsoft down just a touch. The company said it’s laying off 3% of employees across all levels and geographies, according to CNBC. It’s likely Microsoft’s largest round of layoffs since the elimination of 10,000 roles in 2023. Back in January, the company announced a smaller round of layoffs that were performance based. These new job cuts, the company says, are not related to performance. Microsoft had 228,000 employees worldwide at the end of June, meaning that the move will affect thousands of employees. One objective is to reduce layers of management according to the spokesperson. The company reported better than expected results and an upbeat quarterly forecast back in late April. Again, those shares under just a bit of pressure this morning.