Microsoft will lay off about 1,000 employees

Microsoft plans to lay off about 1,000 employees. Axios reported this on Tuesday, citing company sources.

“Like all companies, we regularly assess our business priorities and make appropriate structural adjustments. We will continue to invest in our business and hire employees in key areas for growth next year,” Microsoft said in response to a query from the publication, without naming the number of employees it plans to lay off. Countries where layoffs are planned were also not specified.

Microsoft had about 221,000 employees at the end of June.

Founded in 1975 by businessmen Bill Gates and Paul Allen, Microsoft is one of the largest corporations producing software for various devices: from personal computers to cell phones. Microsoft is headquartered in Redmond, Washington.