WASHINGTON (Sputnik) - Microsoft Chairman and CEO Satya Nadella said on Wednesday that the company will cut 10,000 jobs or nearly 5% of its workforce in the third quarter of 2023 to align its cost structure with its revenue.
“[W]e will align our cost structure with our revenue and where we see customer demand. Today, we are making changes that will result in the reduction of our overall workforce by 10.000 jobs through the end of FY23 Q3. This represents less than 5 percent of our total employee base, with some notifications happening today,” Nadella said in a memorandum to Microsoft employees filed with the US Securities and Exchange Commission (SEC).
At the same time, Microsoft will continue to hire and invest in “strategic areas” to provide for its long-term competitiveness, the memorandum said.
Microsoft will spend $1.2 billion in the second quarter of the year to cover costs associated with severance pay, hardware upgrade and the lease consolidation, the memorandum added.
The tech giant will become another major tech corporation in the United States that resorted to staff reductions over the last 12 months amid the global economic slowdown. Other companies that have implemented significant workforce reductions or plan to do so soon include Twitter, Amazon and HP among others.
Russian Foreign Ministry spokeswoman Maria Zakharova earlier said that the treaty provides for various forms of bilateral cooperation.
The comprehensive strategic partnership agreement between Russia and Iran has entered into force, Iranian Ambassador to Russia Kazem Jalali told Sputnik.
"It is already binding," Jalali said when asked about the date of entry into force of the agreement, as well as whether Iran had notified Russia of the completion of internal procedures.
He recalled that the treaty was ratified by both chambers of the Russian parliament, and Russian President Vladimir Putin signed it. At the same time, the document was ratified by the Iranian parliament, approved by the Guardian Council, and the president issued it as a law.
"Therefore, in both countries it currently has the form of a law and, naturally, has entered into force," Jalali said.
On January 17, Putin and his Iranian counterpart, Masoud Pezeshkian, met in Moscow to sign the Comprehensive Strategic ...
Defying the United States threats, ministers from more than 30 nations have packed Bogotá’s San Carlos Palace to charge the Israeli regime with genocide over its October 2023-present brutal military assault against the Gaza Strip.
The dramatic display of international solidarity saw dozens of high-ranking officials from across the globe convene inside the stately palace on Tuesday, determined to hold the regime accountable for, what they unequivocally called, a “war of genocide.”
The two-day emergency summit, organized under the auspices of The Hague Group -- a coalition co-chaired by Colombia and South Africa -- had representatives, ranging from such countries as Algeria and Brazil to Pakistan and Spain, in attendance.
The participants described the drive as a coordinated effort to stop the Israeli atrocities.
Behind closed doors, ministers and envoys, meanwhile, engaged in intensive sessions aimed at drafting collective measures to pressure the regime -- steps expected to be unveiled by ...
