‘Worrying trend’ | Are Microsoft and Google's struggles a bad sign for the tech sector?

Big tech companies have been implementing new changes to tackle the recent economic struggles. Tech giants, such as Microsoft and Google, are among the many firms to have implemented hiring freezes and job cuts as the economic downturn plunges businesses into uncertainty. 

Firms such as Google, Microsoft, Facebook and more have made great profits during the COVID-19 pandemic.

In 2021, it was reported by Refinitiv that Microsoft’s productivity segment and personal computing area sales were expected to have a midpoint gain of $12.50 billion.

In fact, Microsoft's Chief Financial Officer, Amy Hood, said: “This was really driven by continued customer demand, with stronger-than-expected consumption as customers have increased their focus on digital transformation.”