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Benzinga
Benzinga
Technology
Anusuya Lahiri

Microsoft Joins Peers In Hiring Slowdown Amid Economic Volatility

Microsoft Nasdaq SNAP NYSE Meta Microsoft Corp NVDA Nvidia Corp Salesforce Inc Snap Inc
  • Microsoft Corp (NASDAQ:MSFT) looks to slow hiring in its Windows, Office, and Teams chat and conferencing software groups, Bloomberg reports.
  • Recently, Microsoft disclosed plans to double its budget for salary increases and boosting stock grants to retain key workers.
  • Microsoft's slowdown was not companywide, and overall it will continue to hire with additional focus on where those resources go.
  • Also Read: Snap CEO Hints At Hiring Slowdown, Spending Cuts After Warning Of Q2 Shortfall
  • Microsoft mentioned a need to realign staffing priorities amid global economic uncertainty as such caution was typical in periods of economic volatility.
  • Recently chipmaker Nvidia Corp (NASDAQ:NVDA) shared its plans for a hiring slowdown. 
  • Meta Platforms Inc (NASDAQ:FB), Snap Inc (NYSE:SNAP), and Salesforce Inc (NYSE:CRM) have also undertaken similar measures. 
  • Price Action: MSFT shares traded higher by 0.39% at $266.95 in the premarket on the last check Friday.
  • Photo Via Wikimedia Commons
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