Microsoft announced the layoff of 9,000 employees, constituting about 4 percent of its workforce, despite posting a strong net income of $25.8 billion on $70.1 billion revenue. This trend of layoffs is also seen in other tech giants like Meta and Google, which continue to report significant profits while reducing staff. The perception of job security within these companies has shifted drastically, as even employees once promised stability now feel that the implied pact between job security and employment is broken.
Microsoft confirmed it was axing 9,000 employees, about 4 percent of its workforce, despite reporting $25.8 billion net income on $70.1 billion in revenue.
Many tech giants, including Meta and Google, are cutting jobs even while reporting massive profits, challenging the traditional perception of job security in the industry.
As recently as five years ago, major tech companies like Microsoft offered stable, lucrative, and futureproof employment, which now seems to be a thing of the past.
Former employee Daniel Sada states that, "the pact is fundamentally broken," reflecting the shift away from job security within tech giants.
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