Issue link: https://maltatoday.uberflip.com/i/1490342
Name Current Change %Change Open High Low Prev. Value Close US MARKETS DOW JONES 33,852.53 3.07 0.01 33847.80 33933.91 33662.45 33849.46 NASDAQ 10,983.78 -65.72 -0.59 11060.02 11086.02 10944.37 11049.50 EUROPEAN MARKETS FTSE 7,584.03 72.03 0.96 7512.00 7584.53 7512.00 7512.00 CAC 6,722.47 53.50 0.80 6706.67 6734.86 6678.75 6668.97 DAX 14,392.64 37.19 0.26 14429.22 14487.70 14363.32 14355.45 ASIAN MARKETS SGX Nifty 18,894.00 -22.50 -0.12 18916.50 18926.50 18892.00 18916.50 NIKKEI 225 27,968.99 -58.85 -0.21 27886.67 27972.89 27802.71 28027.84 STRAITS TIMES 3,290.49 14.13 0.43 3279.86 3290.56 3270.03 3276.36 HANG SENG 18,597.23 392.55 2.16 18141.56 18645.35 18052.32 18204.68 TAIWAN WEIGHTED 14,879.55 169.91 1.16 14678.23 14879.55 14678.23 14709.64 KOSPI 2,472.53 39.14 1.61 2424.44 2472.53 2421.42 2433.39 SET COMPOSITE 1,635.36 10.97 0.68 1626.14 1636.08 1622.24 1624.39 JAKARTA COMPOSITE 7,081.31 69.24 0.99 7012.11 7081.31 6993.70 7012.07 SHANGHAI COMPOSITE 3,151.34 1.59 0.05 3141.40 3158.57 3137.37 3149.75 19.1.2023 7 MARKETS International Markets Global Indices Trading Date: 18 Jan 2023 Microsoft set to announce big layoffs, according to multiple reports MICROSOFT (MSFT) could announce thousands of job cuts on Wednesday, according to multiple news re- ports, potentially becoming the latest tech company to cull its workforce as the global economy slows. Sky News, without naming sources, reported the lay- offs would affect roughly 5% of the company's work- force. Microsoft employs 221,000 people around the world, including 122,000 in the United States. The software company plans to cut jobs in a number of engineering divisions, according to Bloomberg, which cited a person familiar with the matter. The Wall Street Journal, also citing a person familiar with the matter, said the layoffs could be announced as soon as Wednes- day. Microsoft declined to comment on the reports. Multiple tech companies have made deep cuts to their workforces since the start of the year, as inflation weighs on consumer spending and rising interest rates squeeze funding. The demand for digital services dur- ing the pandemic has also waned as people return to their offline lives. Amazon (AMZN) announced that it plans to lay off 18,000 people and Salesforce said it is cutting 10% of its staff. Facebook (FB) parent Meta also recently an- nounced 11,000 job cuts, the largest in the company's history. In October, Axios reported that Microsoft had laid off under 1,000 employees across several divisions. Tech CEOs, from Meta's Mark Zuckerberg to Sales- force's Marc Benioff, have blamed themselves for over-hiring early on in the pandemic and misreading how a surge in demand for their products would cool once Covid-19 restrictions eased. While the overall labour market remains tight, layoffs in the tech sector have mounted at a staggering pace. A recent report from outplacement firm Challenger, Gray & Christmas found tech layoffs were up 649% in 2022 compared to the previous year, versus just a 13% uptick in job cuts in the overall economy during the same pe- riod. Microsoft will announce second quarter earnings on January 24. The software company's Azure cloud com- puting business drove revenue growth over the three months through September, as sales in its personal computing division decreased slightly.