Microsoft is pulling back on hiring quotas for its Windows, Office and Teams chat and conferencing software groups.
The company is apparently readjusting staffing needs in reaction to a global economy that’s been buffeted by rising prices, supply chain problems, and spillover effects from war in Ukraine. The move was first reported by Bloomberg.
“As Microsoft gets ready for the new fiscal year, it is making sure the right resources are aligned to the right opportunity. Microsoft will continue to grow headcount in the year ahead and it will add additional focus to where those resources go,” the company said in a statement.
Microsoft’s share prices are down so far this year, from around $337 per share in early January to about $265 a share today, according to Markets Insider. (Financial markets overall are down for the year as well.)
Microsoft is not alone. A handful of other big-name tech companies have acknowledged similar moves on hiring – the latest being Salesforce and software and graphic card maker Nvidia, which during its earnings call Wednesday said: “We’re slowing for now to integrate these new employees and to focus our budget on taking care of existing employees as inflation persists.”