Microsoft Announces Major Layoffs in Australia, Global Cull Underway

In a surprising move, Microsoft has announced another wave of job cuts for its Australian employees, adding to the already 200 staff members let go this year. This downsizing effort seems to be part of a larger global reduction, with reports stating over 1000 jobs being eliminated. The impacted roles mainly include customer service, sales, engineering project managers, and marketing employees.

In its most recent filing with the Australian Securities and Investments Commission, Microsoft Australia recorded a fall in annual profit to $132.4 million for the 2022 financial year, from $148.8 million the previous year. Its local revenue, however, surged by more than $1 billion to $6.3 billion.

To minimize their tax payments, Microsoft has established its Australian, UK, New Zealand, and Singapore divisions as subsidiaries of Microsoft Ireland Research, which is further a subsidiary of "Microsoft Round Island One," based in Bermuda. These subsidiaries are listed under RI Holdings, another subsidiary based in Hamilton, Bermuda, where corporate tax rates are at 0%.

- CyberBeat