Microsoft says it’s laying off 10,000 workers

Microsoft is cutting 10,000 workers over the next eight months, the software giant said in a securities filing Wednesday.

The company said it will start notifying workers today. The cuts represent “less than 5 percent of our total employee base,” it said.

Customers, after spending lavishly on digital services during the pandemic, are now pulling back “to do more with less,” Microsoft said.

The technology industry shed the most jobs of any sector last year, eliminating nearly 100,000 positions in 2022, according to outplacement firm Challenger, Gray & Christmas.

This is a developing story.