Microsoft to slash thousands of jobs in 3rd major layoff round: Report

Microsoft plans to announce job cuts soon in an effort to control costs, people familiar with the matter told Business Insider on Wednesday.

While cuts are projected to be less than 2.5% of the company's 220,000-person workforce, they would still affect thousands of employees working in sales, consulting and the Xbox gaming division.

The company is planning to announce the layoffs next week, although the exact timing could change. Some affected employees will be offered new roles immediately, one of the sources told Business Insider.

The move would mark Microsoft's third major round of layoffs in just over a year, after the company cut 6,000 jobs last May and another 9,000 — 4% of its workforce — last July.