Microsoft is cutting less than 1% of its workforce across departments based on employee performance, according to a spokesperson. The company had 228,000 employees as of June. Microsoft’s stock rose 12% last year, underperforming the Nasdaq's 29% gain, despite a net income margin near a two-decade high. The company also faces challenges with its AI partner OpenAI, which it has funded with over $13 billion. The partnership, described as having “cooperation tension” by CEO Satya Nadella, has yet to yield widespread adoption of Microsoft’s AI-driven tools like the Microsoft 365 Copilot. Revenue growth in its Azure cloud unit is expected to accelerate this year due to increased AI infrastructure capacity.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Microsoft is cutting less than 1% of its workforce across departments based on employee performance,
00:07according to a spokesperson. The company had 228,000 employees as of June. Microsoft's stock
00:13rose 12% last year, underperforming the Nasdaq's 29% gain, despite a net income margin near a
00:19two-decade high. The company also faces challenges with its AI partner OpenAI, which it has funded
00:25with over $13 billion. The partnership, described as having cooperation tension by CEO Satya Nadella,
00:32has yet to yield widespread adoption of Microsoft's AI-driven tools like the Microsoft
00:37365 Copilot. Revenue growth in its Azure Cloud unit is expected to accelerate this year due
00:42to increased AI infrastructure capacity. For all things money, visit Benzinga.com.