Microsoft Layoffs 2024: What to Know as MSFT Enacts More Job Cuts

$Microsoft(MSFT.US)$ layoffs hit the tech giant’s employees last week as it reduced roles in two of its divisions.

According to the latest reports, the Microsoft layoffs included workers in its product and program management departments. This comes after the end of the company’s fiscal year on June 30.

It’s unclear how many employees Microsoft cut in this latest round of layoffs. What we do know is that these aren’t the first job cuts announced this year. The company cut 1,000 jobs last month and laid off nearly 2,000 workers in January.

Tech companies have been laying off employees heavily in 2024. That comes as the U.S. continues to deal with high inflation and the increased interest rates the Federal Reserve is using to combat it.