Microsoft to Lay Off 3% of Global Workforce
May 14, 2025: Microsoft has announced plans to reduce its global workforce by approximately 3%, affecting roughly 10,000 employees across multiple departments.
- May 20, 2025 12:51 pm
- California
April 10, 2023: On Friday, S&P 500 futures and Treasury yields increased during a holiday-shortened trading session following the March jobs report showing an economy and moderate inflation.
Futures on the Dow Jones Industrial Average has gained 55 points. S&P 500 futures gained 0.2%. However, Nasdaq-100 futures were flat.
The 2-year Treasury yield jumped ten basis points to 3.93%. (One basis point equals 0.01%, and yields move inversely to costs.) The 10-year Treasury yield added eight basis points to 3.37%.
The U.S. further stated 236,000 jobs in March, nearly in line with anticipation, with the unemployment price decreasing to 3.5% from 3.6% a month earlier. Based on the agreement estimate from Dow Jones economists, expectations were for a 238,000 increase in non-farm payrolls. Those same economists anticipated the unemployment rate to hold steady at 3.6%.
Average hourly earnings increased by 4.2% on a 12-month basis, the lowest level from June 2021.
The New York Stock Exchange is done for Good Friday, so regular trading will begin on Monday. Futures and bond trading close on Friday.
The S&P 500 is losing 0.1% for the week that ended Thursday, breaking a 3-week win streak as a series of weak labour data points hinted to investors that a slump could be near. The Nasdaq Composite decreased 1.1% for the week, while the Dow is squeaking a small gain.
This week, ADP said private payrolls increased significantly in March. Labor Department data shows job openings decreasing to the lowest in almost two years, and jobless claims every week came in higher than expected.
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May 14, 2025: Microsoft has announced plans to reduce its global workforce by approximately 3%, affecting roughly 10,000 employees across multiple departments.
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