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(Bloomberg) — Microsoft Corp. will cut hiring across its Windows, Office and Teams conferencing and chat software groups, raising the need to realign staffing priorities as a new fiscal year approaches in times of global economic uncertainty.
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All new hires will need to be approved by executive vice president Rajesh Jha and his leadership team, Jha told workers in an email Thursday, a Microsoft spokesman said. These teams have recently expanded and the company needs to make sure it hires the right people. in the right places, the spokesman said. The slowdown doesn’t affect the entire company and, overall, the software maker will continue to hire, the spokesman said, noting that such caution is typical in times of economic volatility.
“As Microsoft prepares for the new fiscal year, it ensures that the right resources are aligned with the right opportunity,” the company said in a statement. “Microsoft will continue to grow in the coming year and this will put more emphasis on where those resources go. “The company’s monetary year begins on July 1.
Other big tech corporations have slowed or frozen hiring in recent months as stocks relent and fears of an economic downturn intensify. Inc. , Snap Inc. , and Salesforce Inc. have taken action.
Earlier this month, Microsoft announced it would nearly double its budget to raise wages and increase inventory subsidies to better retain key workers.
Read more: Sequoia Capital tells startup founders tech is having a “pivotal moment”
(Add main points about other companies’ hiring plans in the fourth paragraph. )
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