Microsoft is laying off 3 percent of its global workforce

Microsoft is cutting 7,000 jobs as part of a broader effort to streamline operations and simplify its structure amid economic challenges like trade issues and competition in AI. The layoffs, affecting all teams without being performance-based, follow significant workforce reductions due to the impact of the pandemic. Despite these cuts, the company has maintained profitability by raising prices on Xbox consoles and phasing out entry-level Surface laptops. Last quarter's results exceeded expectations, showing resilience despite economic headwinds.