Microsoft began laying off thousands of employees, targeting less than 3% of its global workforce in a move to streamline operations and reduce management layers.

The layoffs, which affect thousands of employees, come soon after the tech titan issued an optimistic financial forecast.

The company confirms it's in the process of cutting nearly 3% of its workforce, resulting in around 6,000 fewer jobs across the business. The layoffs are confirmed across the business at various seniority levels and locations,