Bulletins

Microsoft is the latest tech giant to slow hiring

Not even Microsoft is immune to the Great Hunkering Down.

Microsoft

Microsoft is slowing hiring for its Windows, Office and Teams software groups.

Image: Microsoft

Microsoft is slowing hiring for its Windows, Office and Teams software groups, Bloomberg reported Thursday, joining a growing list of tech companies that have pumped the brakes in the light of the economic downturn.


All new hires must now be approved by Rajesh Jha, Microsoft's executive vice president, and his leadership team, a company spokesperson told Bloomberg. The hiring slowdown is not companywide and is specific to those teams, as they've expanded recently. The spokesperson said that Microsoft will continue to grow its headcount overall this year and "will add additional focus to where those resources go.”

“As Microsoft gets ready for the new fiscal year, it is making sure the right resources are aligned to the right opportunity,” the company said in a statement to Bloomberg.

The company's fiscal year starts on July 1.

Microsoft is the latest name on an ever-growing list of major tech companies to have changed their hiring plans, another sign that the slumping stock market is taking a toll. Nvidia announced in its earnings call on Wednesday that the company will slow hiring later this year as a way "to focus our budget on taking care of existing employees as inflation persists." Other companies like Lyft, Snap, Uber, Meta, Salesforce and Coinbase have made similar moves amid tumbling share prices.

Microsoft's share prices are down this year, from around $330 at the beginning of January to around $265 today.

While tech giants have the ability to simply slow down their rapid pace of hiring to adjust to the market, smaller tech companies and startups have had to take more drastic measures. Carvana, Mural, Klarna and Cameo have all laid off a not-insignificant number of employees. Several of those layoffs took place on video calls because workers are largely still remote, which isn't ideal.

Latest Bulletins

Coinbase posted dismal results Tuesday as the crypto powerhouse got slammed by a downturn that “came fast and furious.”

Keep Reading Show less

Over the weekend, the Senate passed the Inflation Reduction Act. The legislation is the largest investment in addressing climate change ever made at the federal level.

Keep Reading Show less

The U.S. has begun cracking down on imported goods from China that may have been made with Uyghur forced labor. That includes solar panels, which have been detained at the border or shipped back to China in recent weeks.

Keep Reading Show less

As pressure mounts on Big Tech to do more to protect the youngest users, Snap is launching a new family center that will allow parents to see who their kids are friends with on Snap and report suspicious accounts.

It’s part of a wave of new kid safety features being launched by tech giants, including Meta and Apple. But Snap has an arguably bigger hill to climb in implementing these features than either of those companies. To get parents of teens to use Snap’s parental controls, first, parents of teens need to actually use Snap.

Keep Reading Show less

North Korean hackers used Tornado Cash, a mixer platform for cryptocurrencies, to launder funds. That's according to the U.S. Treasury Department, which imposed sanctions on the USDC and ETH wallet addresses associated with the protocol Monday.

Keep Reading Show less

Google has filed a new patent infringement lawsuit against Sonos, alleging the violation of four patents. Most of the claims focus on voice assistant functionality; Google alleges that Sonos began violating its patents when Sonos introduced its own voice assistant this summer.

Keep Reading Show less

Twilio disclosed that a cyberattack involving the theft of employee credentials allowed attackers to access data from "a limited number" of customer accounts.

Keep Reading Show less

Block reported second-quarter earnings that just topped analysts’ estimates, but shares fell as investors digested the effect of the macroeconomic environment on the company’s core payments businesses. Bitcoin volume also dragged on total revenue.

Keep Reading Show less

Meta announced Thursday it had banned Cyber Front Z, a pro-Russia troll group that purported to mobilize harassment by supporters of Vladimir Putin's war in Ukraine through a public Telegram channel.

Keep Reading Show less

Coinbase said Thursday that it has partnered with BlackRock to give the world’s biggest asset manager’s clients access to bitcoin and other cryptocurrencies.

Keep Reading Show less

Workers at Blizzard Albany, a subsidiary of game publisher Activision Blizzard formerly known as the studio Vicarious Visions that works on the popular Diablo franchise, said on Wednesday that studio management plans to fight their decision to unionize with the Communications Workers of America.

Keep Reading Show less

Binance co-founder Yi He will take over Binance Labs, the crypto powerhouse’s multibillion-dollar venture capital arm, the company said Wednesday.

Keep Reading Show less

While the $280 billion Chips Act is largely focused on bolstering the U.S. semiconductor industry, it could also be a game changer for carbon dioxide removal. Buried within the sprawling bill is an authorization for research into the technology that, while not proven at scale, could nevertheless play an important role in addressing climate change.

Keep Reading Show less

A new Senate bill would give the Commodity Futures Trading Commission authority over the markets for bitcoin and ether, the two largest cryptocurrencies.

Keep Reading Show less

Robinhood said Tuesday that it was cutting more jobs as CEO Vlad Tenev acknowledged that the company got 2022 market trends wrong.

Keep Reading Show less

PayPal reported second-quarter earnings that beat analyst estimates, adding hopes for investors that the payments giant was seeing a bounce-back from its previous quarter, when economic jitters wiped out the company's pandemic gains.

Keep Reading Show less

Hackers stole nearly $200 million in cryptocurrency after the Nomad crypto bridge protocol was breached.

Keep Reading Show less

Robinhood has been fined $30 million by New York's top financial regulators over alleged shortcomings in the company's anti-money laundering and cybersecurity practices.

Keep Reading Show less

Real estate iBuyer Opendoor has settled charges with the FTC, agreeing to pay $62 million and cease practices the FTC called "deceptive."

Keep Reading Show less

Big Tech is trying to save college affirmative action. A slew of tech companies, including Meta, Google and Apple, filed a brief with the U.S. Supreme Court on Monday signaling support for affirmative action programs at Harvard.

Keep Reading Show less

The Nuclear Regulatory Commission is about to do something it hasn’t done in years: certify the design for a brand new reactor.

Keep Reading Show less

The SEC has filed charges against 11 people involved in an international "crypto pyramid and Ponzi scheme" that raised more than $300 million from millions of investors.

Keep Reading Show less

A bet on banking doesn't seem to have saved troubled fintech LendUp. Parent company LendUp Global has reportedly begun liquidating assets, including its neobank subsdiary, through an assignment for the benefit of creditors, a quieter alternative to a public bankruptcy.

Keep Reading Show less

After admonishing crypto lender Voyager Digital for "false and misleading" statements on the subject, the FDIC said banks must ensure that crypto firms they partner with are clear about whether customer deposits are insured.

Keep Reading Show less

The ad market is starting to get very rocky: Roku warned investors about a “significant slowdown in TV advertising spend” as it reported its second-quarter earnings Thursday.

Keep Reading Show less
Bulletins