Microsoft is planning to lay off 9,000 employees, impacting less than 4% of its global workforce, according to a report by CNBC. Microsoft continues to beat expectations in its quarterly earnings; in its most recent report, the company grew its net income by 18% year over year, amounting to a total of $25.8 billion.

Affected employees will receive severance packages, healthcare benefits, and support for internal job placements

Amazon and Microsoft are cutting jobs and shifting roles as they expand AI use. Amazon expects a leaner corporate team, while Microsoft plans July layoffs, mainly in sales.