Layoff fears may be particularly prevalent in the tech space. Tech firms ramped up hiring during the pandemic when demand for their products surged. Forced remote work changed the landscape and paved the way to more jobs.

The Redmond-based tech giant didn’t disclose how many employees in total it plans to lay off, but a spokesperson said up to 3% of Microsoft’s workforce could be affected. Microsoft has 228,000 employees worldwide, meaning more than 6,800 people could be laid off.

Microsoft announces massive layoffs - 3% of its global workforce will lose their jobs. This could be the company's biggest job cuts since a major „wave” in 2023.