Microsoft is one of the largest brand across the globe. The company has been working on a number of products and services that have helped it gain an edge over its competitors.
Microsoft is also known for its cutting-edge technologies, especially as it relates to cloud computing. In fact, cloud computing has become such an integral part of the company's business that it was named one of Time magazine's 100 Best Companies in 2016.
The tech giant has been hiring more people in Germany than any other country in Europe and now wants to cut 120 jobs from its workforce in Germany by early 2023. The company has a huge customer base and therefore, it is not easy to cut down on its workforce. However, Microsoft wants to cut down 120 jobs in Germany due to the economic slowdown in Europe. This was announced by Microsoft Germany on Monday, according to Reuters.
Microsoft Germany said that they had decided to reduce their workforce because they wanted to be competitive in this tough time for the technology industry. The company wants to make sure that they will have enough resources to focus on their customers' needs and demands. This decision was made after many negotiations with employees and unions, who believed that such reductions would not be beneficial for the company's business.
The news about Microsoft cutting down on their workforce has been received well by investors who believe that Microsoft can still get back on track if they keep their focus on what matters most – their customers' needs and demands. Microsoft is one of the largest brand across the globe, and it has been trying to diversify its business by investing in new areas like cloud computing, artificial intelligence (AI), and digital health.
The company recently announced that it will cut 120 jobs in Germany as part of a restructuring plan to reduce the work force by 3%. According to a report by German daily Handelsblatt, the job cuts are aimed at reducing costs and increasing profitability.
Microsoft's CFO Amy Hood said that with this strategy, no jobs would be lost in Germany itself. However, the company will not be able to avoid layoffs elsewhere around the world due to financial constraints.
This comes after Microsoft's CEO Satya Nadella said last month that he wants to cut about 12% of the company's workforce over two years as part of a broader goal to innovate faster and invest more in advanced technology research projects. Microsoft is looking to cut 120 jobs in Germany. The company has notified the country's economy ministry of its intention to restructure the German operation with a total workforce of 1,200 employees.
The cuts are part of Microsoft's plan to reduce its global workforce by 25 per cent, which includes layoffs and other measures like attrition, according to Reuters.
Microsoft said it will focus on areas where it can improve productivity through technology developments and reorganisation of its teams. It also plans to invest more in research and development for Windows, Azure and Office 365 products as well as gaming consoles and HoloLens.
"We're taking these actions now so we can better adapt our business model for today's fast-changing technology landscape," Microsoft CEO Satya Nadella said in a statement released on Thursday. "To drive future growth in our cloud services, we need to be agile and nimble." When it comes to the tech or clouding part, in fact in windows there is not even a single competitor who can even think of competing with a brand like Microsoft. Microsoft has come a long way and hopefully they will be doing the best in future.
Toronto stock futures are lower, and the TSX lost 0.5% to close at 12,694. The index has now been in a bear market for 11 weeks. Crude oil, gold and copper have all fallen sharply as investors have du...Read More..
Ford is planning to boost its North American production by 2 percent in the first half of 2020, according to Reuters, as the company looks to make up for lost sales from General Motors Co. and Fiat Ch...Read More..
Instagram and Facebook will soon launch blue tick verification, a new feature that will allow users to verify their accounts, according to a report. The blue tag is an exclusive mark give...Read More..
Walmart, the world's largest retailer, plans to close three tech hubs in India and will ask employees to return to the office. The announcement comes as the company seeks to streamline its operati...Read More..