Microsoft to cut 10,000 jobs as it gears up for ChatGPT battle

The US tech giant said it would cut 5% of its global workforce, signalling a gloomy year ahead for the tech sector.<br><br>Microsoft is betting on AI chat technology, a key feature of its new Bing search engine.<br><br>However, shares in the US company rose in morning trading, with investors seemingly more focused on the company's profit and revenue beating expectations.<br><br>The news overshadowed strong quarterly earnings, which showed that profits at the company jumped more than 10% in the last three months of 2022.<br><br>The cuts will reduce the company's workforce by less than 5%, with the reductions beginning immediately, and completed by the end of the third quarter, it said.<br><br>The redundancies are the latest in a wave of lay-offs sweeping the US tech sector.