Report: Microsoft to lay off 700 employees

Report: Microsoft to lay off 700 employees
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Microsoft is expected to announce next week that it will be cutting 700 jobs, Business Insider reported Friday, citing an unnamed source.

The round of cuts is part of the previously announced plan to slash 2,850 jobs by June and is expected to be announced on the company's earnings call Jan. 26, according to the report.

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The company had about 113,000 employees and 1,000 openings as of June 2016.

Business Insider’s source said that the cuts are part of an effort to update the company’s skills across a range of departments.