Microsoft confirmed a report from Axios on Monday that detailed layoffs across multiple divisions.
“Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly,” a Microsoft spokesperson said in a statement. “We will continue to invest in our business and hire in key growth areas in the year ahead.”
It’s unclear how many employees were let go but Axios reported that it was under 1,000 people.
Tech giants including Snap and Oracle have cut staff amid the economic downturn that is forcing budget cuts and substantial drop-offs in stock prices. Others such as Meta and Apple are slowing or freezing hiring.
Microsoft made a small number of job cuts in July, describing the move as part of a “strategic realignment” in specific areas of the company, and said it planned to keep growing its overall headcount.
Microsoft had 221,000 employees as of June 30, an increase of 40,000 people or 22% from the same point the prior year. It was the largest annual increase in employment in Microsoft’s history, based on data tracked by GeekWire.