SEATTLE — Microsoft Corp. announced it would cut more than 6,000 jobs, or about 3% of its workforce. According to Reuters, the main reason was not AI as a threat to jobs, but the need to reallocate resources in favor of rapidly growing AI areas.

The company explained that the staff optimization allows freeing up funds for investment in platforms based on artificial intelligence, including Microsoft 365, Azure and Dynamics 365. CEO Satya Nadella has previously emphasized that up to 30% of code is already written by AI, and Microsoft's goal is to turn large-scale AI models into more specialized solutions available to businesses and society.

Despite the layoffs, Wall Street reacted positively: Microsoft shares reached $449.26, and quarterly revenue amounted to $70.07 billion, exceeding analysts' expectations. The company plans to spend about $80 billion on AI in fiscal 2025.

Analysts do not rule out more layoffs. To offset the increased capital expenditures, the company may have to cut as many as 10,000 jobs annually, Luria said.

The layoffs include nearly 2,000 workers in Washington, where Microsoft is headquartered. The company currently employs 228,000 people.