Microsoft lays off about 1,000 employees

Microsoft has let go of about 1,000 employees, in another sign of the tech industry's recent struggles, CNBC reported.

A company spokesperson told the news outlet Oct. 17 that the job cuts were due to expected slowing revenue because of weak sales of Windows licenses for PCs.

"Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly," a Microsoft spokesperson told CNBC. "We will continue to invest in our business and hire in key growth areas in the year ahead."

The layoffs were first reported by Axios.

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