Amidst fears on an impending recession, Microsoft has recently announced plans to lay off thousands of workers. This workforce reduction follows the trend of many other big tech companies, as the tech industry re-equalizes after over-hiring during the pandemic. The company has been experiencing slow financial growth as of late and is seeking to cut business costs through these layoffs.
See "Layoffs in the tech industry continue as Microsoft announces plan to let go thousands of workers amidst economic fears", Karen Weise, New York Times, January 18, 2023