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.
The prices of some life-saving medicines have soared to levels that are unaffordable for ordinary people in Venezuela as the United States has ramped up military presence in the Caribbean off Venezuela's coast, alongside escalating sanctions, blockades and military threats against the oil-rich South American nation since late August.
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At a northeastern suburb in the capital city Caracas, locals can still purchase most of the commonly used medicines at a major supermarket, where some antibiotics have been sold out, and some first-aid medicines and supplies have become too costly for ordinary residents.
"I'm here mainly to buy antibiotics. I have problems with my lungs. But I can't get all I want, such as vancomycin," said a resident named Alfonso.
"Recent tensions have affected the supplies and prices of drugs. The prices of cancer drugs, insulin drugs and albumin are very high, and most patients here cannot afford them," said Giovanna Gonzalez a ...
Russian President Vladimir Putin says Moscow is prepared to use military force to achieve the goals of its special military operation if Ukraine continues to delay peace talks.
During an inspection of a Russian armed forces command post on Saturday, Putin stressed that Moscow will not allow Kiev’s obstruction to prevent progress.
“If the Kiev authorities do not want to resolve the matter peacefully, we will accomplish all the tasks before us in the course of the special military operation by military means,” he said.
The Russian leader noted that the Ukrainian authorities are not moving toward a peaceful resolution, adding, “We see that even today, unfortunately, the leaders of the Kiev regime are in no hurry to resolve this conflict peacefully. I spoke about this a year ago in a speech at the Ministry of Foreign Affairs.”
Putin also received reports from Chief of General Staff Valery Gerasimov and commanders of Russia’s “Centre” and “East” military groups.
Meanwhile, ...
