Microsoft’s Satya Nadella says tech needs efficiency as job cuts loom

Tech News

As the jobs cut fears loom large over Microsoft as it announces 10,000 layoffs by the end of the third quarter of fiscal 2023, Chief Executive Officer of Microsoft Corporation, Satya Nadella, said on Wednesday that the sector must learn to be efficient as the demand slows down. Speaking at the World Economic Forum in Davos, Switzerland, Satya Nadella said the world is going to go through a phase where there is normalisation in the demand.

“During the [coronavirus] pandemic there was rapid acceleration. I think we are going to go through a phase today where there is some amount of normalization in demand,” said Satya Nadella at WEF, adding that the world will have to do more with less. “We will have to do more with less — we will have to show our own productivity gains with our own technology,” he said.

It was earlier reported that Microsoft is planning to cut down jobs in engineering divisions, joining the ranks of technology giants that are scaling back as the industry prepares for a prolonged slump. The software giant is forecast to post its slowest revenue increase in years when it reports earnings later this month. Even its star cloud computing segment has begun to wane in the past year.

Satya Nadella said the tech spending should accelerate after the current economic cycle, while touting artificial intelligence as a technology that would boost growth.

Satya Nadella later said that many companies have a “productivity paranoia,” toward their workers. “Every leader thinks that somehow they’re not being productive, but everyone who’s working in the organization feels burned out.”

Catch all the Technology News and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Source link

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments