Satya Nadella

Microsoft has opened a voluntary exit offer to as many as 60,000 employees, roughly a quarter of its workforce, the company says. Eligible staff in Canada, India, the United Kingdom and the United States at level 70 and below may apply, and must decide by early December; those who accept leave on 31 Dec. The offer is the largest of its kind so far, following a retirement offer limited to about 9,000 staff earlier this year and a layoff of 4,800 months ago. Microsoft expects only a small share of eligible employees to accept. The company employed about 223,000 people as of 30 June, down from 228,000 a year earlier.

Alphabet’s stock slides 12% on Thursday, wiping about $500 billion from its market value. The decline follows a 12% rise in Google Search revenue to $63.4 billion, below analysts’ 15% expectation, and a negative free cash flow of $9.1 billion in the third quarter, its second consecutive loss. Capital spending across the sector tops $740 billion this year, with Alphabet planning up to $205 billion in 2026 and higher spending in 2027.