The PC maker, Hewlett-Packard (HP) has said that it would lay off layoff 10 per cent of its global workforce over the next three years. Watch this video to know more.

HP laying off 6000 employees globally over the next three years

Several tech companies are opting for mass layoffs due to uncertainties in the market. WION speaks to Huawei Technologies' Former VP Simon Lacey about the same.

Huawei Technologies' Former VP Simon Lacey on why tech companies are going for mass layoffs?

HP to lay off 10% of global workforce by 2025

The US technology giant, Microsoft on Tuesday said that its earnings for the recent quarter fell short of expectations as the sales of personal computers suffered due to low demand and supply delays from China. The tech firm beat market expectations with a $16.7 billion profit on $51.9 billion in revenue but fell short of the same quarter year earlier. As per the firm its sales were harmed by the high US currency which made its products more expensive in overseas markets. Prior to a pandemic, the personal computer market had been steadily declining as more people switched to smartphones and tablets, AFP reported.

Dan Ives, a Wedbush analyst in a note to investors said that the decline in earnings was mostly caused due to fluctuating currency exchange rates and the closure of personal computer manufacturing in China. Ives states, “The most important core business; cloud and commercial bookings were relatively rock solid despite fears.” He further added, “The core DNA of the Microsoft growth story is cloud and core Azure growth which was healthy this quarter and appears to have momentum into 2023 despite economic headwinds."

Also read |&nbsp;<a href="https://www.wionews.com/how-is-metaverse-going-to-impact-journalism-500643">How Metaverse will impact journalism</a>

Chief financial officer at the firm Amy Hood said, “In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform.”

However, the earnings report stated that the firm lost $300 million in income that would have been generated from Windows operating systems purchased to power the machines due to production shut-in in China and declining demand.&nbsp;

Watch |&nbsp;Microsoft Teams down for thousands of users worldwide

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Furthermore, after the pandemic, the prevalence of online commerce, employment, socialising, and entertainment has rekindled demand for desktop computers but isn’t sure when will this trend continue.&nbsp;

Ad revenue of the company at news, search and LinkedIn suffered due to reduced marketing expenditure. The firm also logged $126 million in operating costs connected to stopping operations in Russia amid the Ukraine crisis.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/technology/ai-ethics-overhaul-microsoft-to-phase-out-public-access-to-controversial-facial-recognition-tool-490953">AI ethics overhaul: Microsoft to phase out public access to controversial facial recognition tool</a>

However, the company’s CEO Satya Nadella said, “We see real opportunity to help every customer in every industry use digital technology to overcome today's challenges and emerge stronger.”

(With inputs from agencies)

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The US technology giant, Microsoft on Tuesday said that its earnings for the recent quarter fell short of expectations as the sales of personal computers suffered due to low demand and supply delays from China.

The US technology giant, Microsoft on Tuesday said that its earnings for the recent quarter fell short of expectations as the sales of personal computers suffered due to low demand and supply delays from China. The tech firm beat market expectations with a $16.7 billion profit on $51.9 billion in revenue but fell short of the same quarter year earlier. As per the firm its sales were harmed by the high US currency which made its products more expensive in overseas markets. Prior to a pandemic, the personal computer market had been steadily declining as more people switched to smartphones and tablets, AFP reported. Dan Ives, a Wedbush analyst in a note to investors said that the decline in earnings was mostly caused due to fluctuating currency exchange rates and the closure of personal computer manufacturing in China. Ives states, “The most important core business; cloud and commercial bookings were relatively rock solid despite fears.” He further added, “The core DNA of the Microsoft growth story is cloud and core Azure growth which was healthy this quarter and appears to have momentum into 2023 despite economic headwinds." Also read | How Metaverse will impact journalism Chief financial officer at the firm Amy Hood said, “In a dynamic environment we saw strong demand, took share, and increased customer commitment to our cloud platform.” However, the earnings report stated that the firm lost $300 million in income that would have been generated from Windows operating systems purchased to power the machines due to production shut-in in China and declining demand. Watch | Microsoft Teams down for thousands of users worldwide Furthermore, after the pandemic, the prevalence of online commerce, employment, socialising, and entertainment has rekindled demand for desktop computers but isn’t sure when will this trend continue. Ad revenue of the company at news, search and LinkedIn suffered due to reduced marketing expenditure. The firm also logged $126 million in operating costs connected to stopping operations in Russia amid the Ukraine crisis. Also read | AI ethics overhaul: Microsoft to phase out public access to controversial facial recognition tool However, the company’s CEO Satya Nadella said, “We see real opportunity to help every customer in every industry use digital technology to overcome today's challenges and emerge stronger.” (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Microsoft’s earnings suffer as computer sales decline

US tech giant Facebook announced that it would invest Rs 43,547 crore ($5.7 billion) in Jio to expand its presence in India. Facebook's investment translates into 9.9 percent stake in Jio. This would be Facebook's biggest minority shareholding ever.

Facebook to invest $5.7 BN in Jio: Acquire 9.99% stake

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HP laying off 6000 employees globally over the next three years

Huawei Technologies' Former VP Simon Lacey on why tech companies are going for mass layoffs?

HP to lay off 10% of global workforce by 2025

Microsoft’s earnings suffer as computer sales decline

Facebook to invest $5.7 BN in Jio: Acquire 9.99% stake