Microsoft will lay off 9,000 employees, or less than 4% of the company

Microsoft is planning to lay off 9,000 employees, impacting less than 4% of its global workforce, according to a report by CNBC.

Microsoft continues to beat expectations in its quarterly earnings; in its most recent report, the company grew its net income by 18% year over year, amounting to a total of $25.8 billion.

However, the company has continued to reduce its headcount — this is one of many rounds of layoffs to have already occurred this year.

Microsoft has said that these cuts are an attempt to cut down on its layers of management, following the lead of competitors like Amazon and Meta.