US multinational technology corporation, Microsoft, has reportedly laid off nearly 1,000 of its employees worldwide as the company’s shares had dipped to 30% in one year.
This fresh move is also coming amid fears of recession and also decrease in product demand and the layoffs represent less than half of 1 percent of the company’s 221,000 global employees.
Microsoft executives, in a statement, explained that the company made structural adjustments as needed.
“Like all companies, we evaluate our business priorities on a regular basis,” the spokesperson said. “We will continue to invest in our business and hire in key growth areas in the year ahead.”
With the announcement, Microsoft becomes the latest company to cut its workforce twice this year amid rampant inflation.
In another report, Greece and Microsoft on Monday announced an investment deal worth up to a billion euros ($1.2 billion) to build cloud storage infrastructure in the country.
The announcement comes as Greece’s pro-business government plans to gradually shift the country’s notoriously bureaucratic civil service online.
“We are bringing data centres to Greece. We’re going to create a new region that will include Greece as well as (neighbouring countries),” Microsoft president Brad Smith told the project launch in Athens.
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“This is a new opportunity for every small business in Greece… with cloud services, you pay for what you use, and you pay only when you use it,” said Smith, adding companies would no longer need to invest in buying and maintaining servers.
The project foresees three data centres in the greater Athens area. No timeframe was given Monday.