Microsoft announces thousands of layoffs and adds to a wave of cuts in technology companies that already affects more than 60,000

By Ashley Capoot -

Microsoft, Amazon, Meta and other technology companies laid off more than 60,000 workers in 2022 and job cuts will continue this year, according to announcements made this Wednesday.

Microsoft announced that it will lay off 10,000 employees, 5% of its workforce worldwide.

And Amazon reported the start of a new round of cuts that will put more than 18,000 people out of jobs, in the biggest reshuffle in its 28-year history.

Amazon employees in California, in November SANDY HUFFAKER / REUTERS

These layoffs come at a time when economic growth is slowing, following several interest rate hikes by the Federal Reserve to combat inflation, and amid fears of a possible recession this year or next.