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Microsoft Stock Just Hit a Fresh High; Company Plans to Trim Thousands of Jobs, Report Says

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  Microsoft is reportedly planning to trim thousands of jobs, particularly in sales, as the tech giant faces pressure to lower labor costs while it boosts spending on artificial intelligence.


Microsoft's stock reached a new high on January 18, 2023, closing at $242.28 per share, despite reports that the company plans to lay off thousands of employees as part of cost-cutting measures. The layoffs, expected to be announced before the company's quarterly earnings report on January 24, 2023, are part of a broader trend of tech companies reducing their workforce amid economic uncertainty. Microsoft's decision to cut jobs comes after a period of significant hiring during the COVID-19 pandemic, and the company aims to streamline operations and focus on key growth areas such as cloud computing and artificial intelligence.

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