Microsoft will cut 10,000 jobs in the latest round of staff redundancies to hit the tech industry. It will affect 5% of its global workforce and cost £972m in severance and reorganisation costs. Microsoft is the latest, but it won't be the last, as the giants seek to tighten their belts following the boom time of the pandemic, when lockdowns meant people were stuck at home, wanting to spend their cash on digital entertainment and devices. Amazon plans to cut over 18,000 jobs, the largest number in the firm's history, as it battles to save costs. The online giant employs 1.5 million people globally and said the job cuts would include Europe. Meanwhile M&S will create 3,400 jobs as it opens new shops. AJ Bell’s investment director said it felt significant that M&S had revealed its investment figure at a time when the retail environment is not buoyant. see