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Microsoft Plans to Cut Over 5,000 Jobs Next Week Amid AI Spending Concerns; Stock Drops 19% in June

2026-07-01 15:25:48

According to the New York Post on July 1, Microsoft plans to lay off over 5,000 employees next week to reduce costs as concerns mount over its out-of-control artificial intelligence spending. The layoffs will represent less than 2.5% of the company's 220,000-person workforce and will affect the sales, consulting, and Xbox gaming divisions. The move comes as Microsoft faces dual pressures: market concerns over excessive AI infrastructure investment—the company has committed approximately $190 billion to new infrastructure over coming years—and a broader shift that may render traditional software tools obsolete. Microsoft stock fell 19% in June, marking its worst monthly performance since the early 2000s internet bubble.

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