A Massive Company Now Announces Painful Layoffs in Washington

A massive company now announces painful layoffs in Washington affecting employees across multiple teams and geographies.

Microsoft has conducted another round of layoffs this week, marking the Washington State tech giant’s latest workforce reduction this year.

Within the past 24 hours, several people have taken to social media to announce that they have faced layoffs at Microsoft.

It is currently unclear the exact number of those affected or if they’re part of the 1,500 estimated to be laid off in June.

Insider Gaming has found four people announcing their departure from the company.

Angela Viness, a Senior Product Manager at Microsoft wrote, “Hello friends – In light of the recent layoffs at Microsoft, my position was eliminated, and I am now on the lookout for my next career adventure.

It was an incredible ride and I’m extremely grateful for the opportunities I was given.”

While Jessabirdy on X (formerly Twitter) said, “Sad to announce that my role with Microsoft has been eliminated.

To all those who have been a part of Team Xbox. Thank you. Hope I made you proud. <3”

Cory Ebert, a Technical Program Manager said, “Well, this isn’t how I thought today would go.

After nearly 15 years (seriously, two months shy), Microsoft has made the decision to end our working relationship effective immediately due to changes in the business direction and landscape.”

Earlier this year, Microsoft announced that it would be laying off 1,900 employees at the company.

In May 2024, it was also announced that Xbox would shut down four of its game studios, including Tango Gamewords and Arkane Austin.

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Also Read: Retirees Will Now Receive More Money For Social Security

Other Economy News Today

Market News Today - A Massive Company Now Announces Painful Layoffs in Washington.
Market News Today – A Massive Company Now Announces Painful Layoffs in Washington.

Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.

First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.

Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.

That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.

The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.

US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.

Still, hiring remains strong. Although the unemployment rate ticked up to 3.9% last month, it’s the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.

Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.

“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”

Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.

The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.

While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”

Ian Shepherdson at Pantheon Economics said in a note Thursday: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”

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Also Read: A Giant Company Now Announces Unexpected Layoffs in Virginia

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Market News Today - A Massive Company Now Announces Painful Layoffs in Washington.
Market News Today – A Massive Company Now Announces Painful Layoffs in Washington.

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