Microsoft, a tech giant previously considered recession-proof, now plans to eliminate nearly 1,000 jobs, according to Fortune. The cuts include positions in the U.S. and abroad – across various teams and different staff levels – as well as some employees at Xbox and other Microsoft-owned studios such as ZeniMax Media, which it acquired last year in a $7.5 billion all-cash deal.
The company also reduced its revenue forecast following the release of disappointing numbers in its fourth-quarter earnings report.
“Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead,” Microsoft said in a statement.
Many employees impacted by the layoffs shared their news on Blind, Twitter, and other social media sites, expressing anxiety about what they say are grim hiring prospects.
“I’ve got a good network and sent a lot of feelers out today, but there just aren’t many openings,” KC Lemson wrote in a post this week.
Lemson is the creator of Microsoft’s unofficial Ninja Cat mascot. The company dedicated a portrait of her four years ago in honor of her work.
Microsoft is now in the midst of acquiring Activision Blizzard for $69 billion; however, the company still needs regulatory approval from the United Kingdom to finalize the deal. British regulators previously voiced their concern that the purchase could hinder competition. When Microsoft failed to offer up any solutions, the U.K. Competition and Markets Authority subsequently launched a more thorough review of the deal and its implications.