Microsoft Corp (NASDAQ:MSFT) has confirmed a new round of performance-based layoffs impacting a small percentage of jobs across departments.
A person familiar with the matter told media outlets that the job cuts would impact less than 1% of the tech giant’s workforce, which totalled 228,000 employees as of the end of June.
Microsoft is reportedly evaluating employees up to level 80, one of its top tiers.
“At Microsoft we focus on high-performance talent,” a Microsoft spokesperson said in a statement. “We are always working on helping people learn and grow. When people are not performing, we take the appropriate action.”
These cuts follow other downsizing efforts by Microsoft, including the loss of 1,900 jobs in its gaming division following its Activision Blizzard and the shedding of 10,000 employees in early 2023.
Shares of Microsoft closed at about $424 on Tuesday, up 13% in the last year.