I am just supporting him. "Today we notified a small number of employees that their roles have been eliminated," a Microsoft spokesperson told CNBC in an email. 3. Chris Williams is the former VP of HR at Microsoft and a leadership advisor, podcaster, TikTok creator, and author.This story was originally published in September 2022. A new round of layoffs happened at Microsoft today in an org called MLX. February 1Electric automaker Rivian Automotive will cut 6% of its staff, CEO R.J. Scaringe said in an email to employees seen by Reuters, just over six months after the company laid off another 5% of its roughly 14,000 employees (Rivian did not immediately respond to an inquiry for more details from Forbes). Microsoft layoffs October 2022: The tech giant cuts nearly 1,000 jobs Oct 17, 2022 - Technology Microsoft becomes latest tech firm to cut staff Ina Fried, author of Axios Login Illustration: Natalie Peeples/Axios Microsoft announced layoffs across multiple divisions on Monday, Axios has confirmed. It is unknown when the layoffs are planned to st, Is it true? Microsoft laid off employees across the company, with a person familiar saying it affected under 1,000 jobs. October 18, 2022 at 5:25 p.m. EDT. Axios, which reported the layoffs earlier on Monday, said the cuts impacted fewer than 1,000 people and cited an unnamed person. Alex Kipman, who created Kinect and led development on Windows Mixed Reality, resigned following reports of inappropriate behavior, with a significant U.S. military contract for HoloLens reportedly on the rocks. Details: Microsoft declined to say how many jobs had been cut, but a source said the layoffs numbered under 1,000. Thats because the startup situation hasnt really changed much. The news comes weeks after Microsoft cut less than 1 percent of its 180,000-person workforce, with job cuts in consulting, and customer and partner solutions. The cuts . Mass layoffs are one of the more painful consequences of a looming economic recession, and the high-flying and well-funded tech industry isn't immune. TC 280-300k depending on stock, https://www.msn.com/en-us/money/markets/more-microsoft-job-cuts-to-impact-hundreds-more-eastside-workers/ar-AA17locc Is it true they are doing more layoffs in March and April out of Washington Which team are getting effected @microsoft, Hi, does anybody know if Microsoft will notify impacted employees by Jan end or do the actual notifications continue until March? Investors will be watching the company closely to see if it can refocus its efforts on more profitable technologies and products. As a company, our success must be aligned to the worlds success.. 10K layoffs at Microsoft announced today. The company trimmed thousands of employees as it adjusted its approach to selling. April 27, 2022: Robinhood, the popular investing app, lays off 9% of staff. Does that mean all the people that were fired lost the vacation days from their severance package? Does anyone know what orgs the layoffs are affecting? Anyone knows which departments are affected? The move aligns with efforts at technology companies big and small to lower costs. In previous generations, people were told to graduate college and get a good job then work there until they retire and cash out their 401k accounts. Sign up for Forbes Layoff Lifeline, a week-long newsletter series on how to stand out in todays challenging job market. Total employment in the U.S increased by 517,000 positions in January, nearly tripling economists expectations, as industries such as construction, hospitality and healthcare bring in new workers despite recent cuts primarily in the tech industry. January 11BlackRock officials reportedly told employees the New York-based company plans to reduce its headcount by 2.5%the company did not immediately respond to a Forbes inquiry for further details, but in an internal memo obtained by Bloomberg, CEO Larry Fink and President Rob Kapito said the move comes amid uncertainty around us that necessitates staying ahead of changes in the market., January 11In a memo to employees, Flexport CEOs Dave Clark and Ryan Petersen announced plans to slash 20% of the companys global workforce (estimated to affect 662 of its more than 3,300 employees, according to data from PitchBook), saying the supply chain startup is not immune to a worldwide the macroeconomic downturn.. Just had a call 300 people org laid off. 2023 CNBC LLC. January 5Crypto lender Genesis Trading reportedly laid off 30% of its workforce, according to the Wall Street Journal, which spoke to unnamed sourcesthe companys second round of cuts since August, lowering its staff to 145. Just wanted to know if there is any update on Microsoft India layoffs or any insider. When I logged into work on Monday, I had several coworkers telling me there were layoffs and they had been affected. But February still saw around 28,000 U.S. tech employees lose their jobs, making it the third-largest layoff month since the start of 2022. As pandemic fears have receded and businesses reopened, tech payrolls are higher than they need to be to keep operations running. Microsoft announced layoffs across multiple divisions on Monday, Axios has confirmed. It helped for us to pray together. According to TechCrunch,. January 24Cryptocurrency exchange Gemini is planning to cut 10% of its workforce, according to an internal memo seen by CNBC and The Information, with layoffs estimated to affect 100 of its roughly 1,000 employeesits latest round of cuts after it slashed 7% of its staff last July, and another 10% last May. Amazon recently laid off 18,000 employees, while Facebook and Instagram owner Meta cut 11,000 jobs. February 9News Corp, the owner of the Wall Street Journal, New York Post, publishing giant HarperCollins as well as outlets in the U.K. and Australia, plans to slash its workforce by 5% this year (roughly 1,250 employees), the Journal reported, following a 7% revenue drop to $2.52 billion over a 12-month period ending in December. Rivals like Google, Amazon, Facebook have all acquired big consumer apps like YouTube, Twitch, and Instagram, and Microsoft is still trying to align its consumer offerings. I started. While public companies have spent the last few months zig-zagging in layoffs numbers, startups are still cutting employees at a pretty steady cadence. Microsoft killed off its Groove Music service in 2017, officiallydiscontinued Kinect in the same year and also finally admittedWindows Phone was dead. Microsoft even pivoted itsHoloLens hardware towards commercial customers, and there are new signs HoloLens could be in trouble. The company will be announcing earnings on Oct. 25. January 26Software company IBM announced it would slash 1.5% of its global workforce, estimated to affect roughly 3,900 employees, according to CFO James Kavanaugh, multiple outlets reported, as the company expects $10.5 billion in free cash flow in fiscal year 2023. February 15Accounting firm KPMG could cut 2% of its staff (roughly 700 employees), the Financial Times reported, citing a staff memo from Carl Carande, the vice-chair of the companys U.S. advisory business, who said the cuts are intended to align its workforce with current and anticipated market demandmaking it the first of the so-called Big Four accounting firms to conduct a major round of layoffs amid growing recession fears in recent months. Microsoft paid about $25.3 million following charges of bribery in 2019. Various tech companies are making or are expected to make layoffs in the face of current macroeconomic headwinds, owing to increased costs from inflation, disrupted supply chains stemming from China's Covid-19 policies, and Russia's war of aggression in Ukraine. While public companies have spent the last few months zig-zagging in layoffs numbers, startups are still cutting employees at a pretty steady cadence. Haje Jan Kamps. January 4San Francisco-based software giant Salesforce will reduce its headcount by 10%, or 7,900 employees, CEO Marc Benioff announced in an internal letter, amid a challenging economic climate and as customers take a more measured approach to their purchasing decisions., January 4Online video platform Vimeo announced its second round of cuts in the past six months, which affect 11% of its workforce (roughly 150 of its 1,400 employees, according to data from PitchBook), with CEO Anjali Sud attributing the companys decision to a deterioration in economic conditions.. It means I am curious and feel mildly embarrassed asking it. Google parent company Alphabet slashed its workforce by 12,000 people, while Microsoft and Amazon let go of 10,000 and 8,000 employees, respectively. Get this delivered to your inbox, and more info about our products and services. February 7Disney could lay off as many as 7,000 employees (roughly 3.2% of its 220,000 global employees) in a necessary step to address the challenges we face today, CEO Bob Iger said in a conference call Wednesday afternoon as the company looks to save $5.5 billion by cutting its staff. February 27Denver-based software company Palantir Technologies will cut just under 2% of its workforce, even as the company reported a $31 million profit in the last fiscal quarteraffecting as many as 76 of the companys 3,838 employees, according to PitchBook (Palantir did not immediately respond to an inquiry from Forbes). Chris Williams is a former VP of HR at Microsoft and podcaster, consultant, and TikTok creator. The ride-hailing app had two rounds of layoffs at its corporate offices this year: 60 people in July, according to a memo reported by The Wall Street Journal, and 683 people Nov. 3, according to a . Investors likely saw signs of financial trouble for Microsoft before the layoffs. !function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement("script");o.async=1,o.id=n,o.src="https://e.infogram.com/js/dist/embed-loader-min.js",d.parentNode.insertBefore(o,d)}}(document,0,"infogram-async"); Wheres this change coming from? February 27Cerebral confirmed the mental-health startup will cut 15% of its workforce (roughly 285 employees) in a statement to Forbes, saying the layoffs are part of a reorganization planthe companys third round of layoffs since last summer, including one round in June that affected 350 employees. The conversation has been edited for length and clarity. In July, Microsoft laid off less than 1% of its staff of 180,000 across departments like consulting and customer solutions, according to Bloomberg. New York, He cut 5% of his workforce. Microsoft previously said it planned to lay off less than 1% of its 180,000-person workforce as markets sour and the risks of a recession loom. Microsoft Corp. on Monday provided an omen. Opinions expressed by Forbes Contributors are their own. January 19Capital One slashed 1,100 technology positions, a source familiar with the matter told BloombergCapital One did not confirm the number of positions that would be cut, although a spokesperson told Forbes that affected employees were told they could apply for other roles in the company. Are these layoffs signs of future struggles for the business or just a proactive step to reduce costs now that people fear an oncoming recession? January 13Crypto.com CEO Kris Marszalek announced the company, which had more than 2,500 employees as of October, according to PitchBook, will cut 20% of its staff in a message to employees, as the company faces ongoing economic headwinds and unforeseeable industry eventsincluding the collapse of Sam Bankman-Frieds cryptocurrency exchange FTX late last year, which significantly damaged trust in the industry.. A Microsoft spokesperson on Monday confirmed that the company let go of additional workers as the software maker's revenue is expected to slow, thanks to weaker sales of Windows licenses for PCs. Saw a few posts about layoff coming on 17th of Jan. January 25Vacasa, the Portland, Oregon-based vacation rental management company announced it would slash 1,300 positions (17% of its staff) in a SEC filing as it moves to reduce costs and focus on being a profitable company, three months after it announced it would cut another 6% of its staff. Updated Oct 18, 2022, 3:41 PM IST. Cutting back on investments in things like the HoloLens and office-based hardware like the Surface Hub are two components of this. Sign up for free newsletters and get more CNBC delivered to your inbox. In 2018 the software giant originally detailed its efforts to win back the non-enterprise customers it let down, forming a Modern Life Experiences team to focus on professional consumers (prosumers). Is it for the next round of layoffs? Tiana Watts-Porter is a 25-year-old tech recruiter who started at Microsoft in May. Sheldon Cooper/SOPA Images/LightRocket via Getty Images, latest round of tech layoffs sweeping the industry, becoming more and more common for tech companies to rely on contractors. The company with the most rounds of cuts was Peloton, which underwent four separate rounds of layoffs, including one that affected more than 2,800 workers. Some, such ase Netflix, Twitter and Peloton, conducted three rounds of layoffs over the course of 14 months. We want to hear from you. Moving forward, Microsoft will look to focus its resources on areas of growth while reducing its investments in other areas. I know of some and it seems like it is more driven by group manager discretion than performance, tenure, or recent hire. February 1FedEx announced it will slash 10% of its officer and director team and consolidate some teams and functionsfour months after the delivery giant unveiled plans for a hiring freeze and that it would close 90 office FedEx Office locationsin a move CEO Raj Subramaniam said was necessary to make the company a more efficient and agile organization (FedEx employs roughly 547,000 people, according to PitchBook). Verified info from MS Internal Blind 2. February 28Cuts at General Motors will number in the low hundreds of employees, a source familiar with the matter told Reuters, while the Detroit News reported the number could affect as many as 500 of the companys 167,000 employees (GM did not respond to Forbes inquiry as to how many employees could be cut). MS Pay is not great either Whats the motivation for layoff? HoloLens hardware towards commercial customers, Microsoft 365 subscriptions for consumers, Mark Zuckerberg says Meta now has a team building AI tools and personas, Whoops! Think of all dimensions - CEO email, execution, severance, empathy. Plus, Microsoft admitted that the layoffs would cost the business about $1.2 billion in severance and other costs. Please refresh the page and try again. I know that God is going to see me through. The curated list of the most valuable private companies in the world |, Freelance Writers: How To Pitch Crunchbase News, Tech Layoffs: U.S. Companies That Have Cut Jobs In 2022 and 2023, Tech Jobs: These Recently Funded Robotics Startups Are Hiring Humans, January Layoffs Analysis: Job Cuts Spike As Companies Conduct Second Rounds, The Weeks 10 Biggest Funding Rounds: Wiz Wraps Up $300M Raise, Skydio Lands $230M For Drones, The 10 Biggest Rounds Of January: OpenAI Starts Out The Year With A Big Bang, Whos Hiring In Tech This Week? Satya Nadella, chief executive officer of Microsoft Corp., speaks during a panel session on day two of the World Economic Forum in Davos, Switzerland, on May 24, 2022. Verified info from MS Internal Blind 2. Microsoft had fired nearly 1% of its 180,000-strong workforce across offices and product divisions in July as part of a 'realignment'. If you're essential to one of those products, the odds of losing your job are about equal to the risk of failure of the entire company. Microsoft, like many other tech companies, recently announced plans to lay off 5% of staff. Laid off employees took . Microsoft is one of the largest tech companies in the world, responsible for the Windows operating system, office software, cloud services, gaming and more. NY 10036. Though cloud growth has slowed as the pandemic has receded, the cloud is likely to remain an area of focus and growth for Microsoft as consumers purchase fewer devices and companies hesitate to invest in their computer equipment amidst high inflation and interest rates. I immediately had a feeling that I was going to be impacted. Visit our corporate site (opens in new tab). Although the company didn't cite the number of layoffs or the divisions impacted, Axios reports that the cuts affected "a variety of levels, teams, and parts of the world," and totaled "under 1,000 workers." Microsoft has spent 2022 curbing some of its job-hiring momentum. On November 9, 2022, Meta announced that it was laying off 11,000 employees, which translates to ~13% of its total headcount. Microsoft Corp. is set to post quarterly results after the . February 24Ericssons latest round of layoffs, which is expected to affect 8% of its nearly 106,000 global employees (roughly 8,500 positions), comes as part of a cost-cutting plan intended to save roughly $880 million by the end of 2023 and includes 1,400 positions it had announced would be cut earlier this week in Sweden, where the company is headquartered. The job losses, first reported by Bloomberg, impact less than 1 percent of the 180,000-strong global workforce, and are said to be varied across geography and job role . It's becoming common in our industry to get laid off. A new report from Business Insider, corroborated by testimonies on Twitter, suggests that many departments have been affected, including the Xbox division and Microsoft's Strategic Missions and Technology team. Microsoft: Cut nearly 1,000 employees. One of the main reasons companies use temporary or contract workers is for this very contingency. Microsoft last announced a round of layoffs in 2017, after the start of its new fiscal year. Updated on February 27, 2023. Future US, Inc. Full 7th Floor, 130 West 42nd Street, So, don't bother asking the employees. And next layoff coming most likely soon. I anticipate as economy worsens and gdp gets worse, next quarter they will not meet wall streets expectations. You certainly don't want to keep company proprietary information, but a noteworthy list that's always up-to-date will make updating your rsum a snap if or when you need to do it. In June, Microsoft slashed its income and revenue guidance, citing unfavorable foreign-exchange rates. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. https://www.cnbc.com/2022/10/18/microsoft-confirms-job-cuts-after-calling-for-growth-to-slow.html. I heard they arent gonna drag it to end of March. Anyone knows whens the next layoff date? The layoffs reportedly affect less than 1% of Microsoft's 180,000-person workforce and follow no clear pattern with respect to geography or product division, touching on teams including customer . Facebook parent Meta Platforms decreased its target for adding software engineers this year from 10,000 to around 6,000 to 7,000, Reuters reported last week. Between June 2021 and 2022, Microsoft added more than 40,000 people to its payroll. The more info the better? Thoughts? Now he is worrying why they created this group. Your guess is as good as ours :-). A good tool is to maintain a personal list of your accomplishments in a running document. The Redmond-based tech giant (Nasdaq: MSFT) is . A number of companies have already moved to cut jobs, including Snap and, as Axios reported yesterday, Flipboard. Mixed Reality has been impacted. Access your favorite topics in a personalized feed while you're on the go. by Joe Panettieri Oct 18, 2022 Microsoft layoffs have impacted some employees across the Xbox division, and the Strategic Missions and Technology organization. Microsoft Layoffs 2022 - Blind Looks like it's started but not in engineering. The software maker called for the. It similarly forecasted a 30% drop in Windows-related revenue. Seeing a flurry of laid off posts from Microsoft employees today. But February still saw around 28,000 U.S. tech employees lose their jobs, making it the third-largest layoff month since the start of 2022. Microsoft plans to lay off 10,000 employees as part of broader cost-cutting measures, the company said in a securities filing on Wednesday, making it the latest tech company to reduce staff. Mapping out the future of AR, ThirdEye is taking on Google and Microsoft in real-life scenarios. 20-year Microsoft veteran KC Lemson (who also pioneered the much-loved Windows Insider Ninja Cat iconography) tweeted that she was part of the layoffs yesterday. January 18Microsofts cuts, which affect 10,000 employees (less than 5% of its workforce), come three months after the Washington-based company conducted another round of layoffs affecting less than 1% of its roughly 180,000 employees, with CEO Satya Nadella saying in a message to employees that some workers will be notified starting Wednesday, and the layoffs will be conducted by the end of the third fiscal quarter in September. "This was a result of a strategic realignment, and, like all companies, we evaluate our business on a regular basis. Satya Nadella, chairman and chief executive officer of Microsoft Corp., speaks during the virtual Meta Connect event in New York on Oct. 11, 2022. Doing a layoff is not resetting your valuation.. I stopped believing in it because I know I'm just a number to any company I work for. Why in the f does it mean I feel joy in people laying off? When I first realized that I may be laid off, I immediately called my mom and we prayed together. In February, Ericsson laid off around 8,500 workers, while Dell cut 6,650 roles. Other redundancies hit the gaming org, the legal department, and the division setting up government bodies with Microsoft tech. https://www.businessinsider.com/microsoft-layoffs-employees-bracing-for-more-2023-1 https://finance.yahoo.com/news/microsoft-cut-thousands-jobs-sky-185334089.html (Reuters) - Microsoft Corp is contemplating cutting about 5% of its workforce, or about 11,000 roles, U.K broadcaster Sky News reported, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/, Does anyone know if the layoffs also will come with new grad offer rescinds, https://www.reuters.com/technology/microsoft-cut-thousands-jobs-sky-news-2023-01-17/ 166k #severance #layoff #microsoft, Hi All, Asking for one of my friend, which all teams/org/division in Microsoft IDC are affected? Besides that any other group? January 9Artificial intelligence startup Scale AI announced plans to cut one fifth of its staff, CEO Alexandr Wang announced in a blog post, saying the company grew rapidly over the past several years, but faces a macro environment that has changed dramatically in recent quarters.. Microsoft President Brad Smith joins 'Squawk on the Street' to discuss investment in ESG strategies, tech companies cutting labor forces, and Microsoft's investment in fundamental technology . Technology companies are often viewed as volatile and reliant on borrowed money or other influxes of capital. in July 2022 the software giant confirmed that it cut around 1% of its total headcount. Oct 18, 2022. Any dates reavelaed? Around 6K is the number one source mentioned. In recent weeks, tech companies have seen significant layoffs. Technology giant Microsoft has sacked around 1,000 people in a fresh round of layoffs, according to US news website Axios. Have they actually already laid off 10k? its first round of layoffs . But that's just not how it works anymore. The Microsoft executive in charge of Office productivity software, Rajesh Jha, in May told his team to obtain permission before opening new roles. Microsoft is due to release an earnings report next week. January 18Amazon, one of the biggest companies in the country, had outlined a plan to eliminate more than 18,000 positions (including jobs that were cut in November) starting January 18 in a message to staff earlier this month from CEO Andy Jassy, who said the company is facing an uncertain economy after hiring rapidly over the past few years. Who handled it better ? Another area where you should be concerned is new initiatives. Judging your layoff risk in these inbetween roles can be difficult. Microsoft is the latest tech firm to make significant layoffs in 2022. . Microsoft, which laid off 1 per cent or 1,800 employees in July, has asked around 200 more employees to go, this time from one of its customer-focused R&D projects, the media reported on. In fact, for U.S.-focused startups, February was the . Though many tech firms have reduced their headcount recently, major competitor Apple has yet to announce layoffs. I am telling him to stay positive, we don't know why yo. The cuts occurred across a variety of levels, teams and parts of the world. Keeping your rsum current can help you not only weather the looming storm, but it will give you confidence that you can bounce back regardless of your layoff risk. Microsoft is reportedly laying off its team focused on winning back consumers. February 16DocuSign unveiled plans to cut 10% of its staff in a Securities and Exchange Commission filing on Thursday, affecting roughly 740 of its 7,400 employeesthe San Francisco-based software companys second round of cuts in less than half a year, after it slashed another 9% of its workforce last November. With Investment Kits, like the Emerging Tech Kit, investing can be simple and fun. Rumor going around there is one more layoff at MS on 2/6. On Monday technology industry research group Gartner estimated that PC shipments, a factor affecting Microsoft's Windows operating system business, fell nearly 13% in the third quarter, the most sluggish performance in nine years, in part because of geopolitical issues. ABC News. So February, by comparison to the brutal month before, seems relatively tame. I've even found that when I interview for full-time jobs, they see that I was a contractor in the past and are more inclined to hire me in that capacity. Stay up to date with what you want to know. Microsoft's Office group took a more cautious approach to hiring in May. Microsoft says it's open to working with unions, less interested in growth-oriented stocks. Januarys layoffs were primarily driven by public companies, which were responsible for a record 93% of laid-off U.S. tech workers that month. Anyone have insights on how the Microsoft layoff decisions today are being made? In his memo, Nadella said that the company would continue to invest in strategic areas for our future, meaning we are allocating both our capital and talent to areas of secular growth and long-term competitiveness for the company, while divesting in other areas.. While Microsoft is laying off around 10,000 people, Amazon is laying off an astounding total of 18,000 people. Layoffs are a somber and saddening subject. As such, these areas are rarely the source of major cuts in most layoffs. contractors are often the first on the chopping block. Watts-Porter's employment and layoff has been confirmed by Insider, and when asked for comment, Microsoft did not respond. Watts-Porter's employment and layoff has been confirmed by Insider, and when asked for comment, Microsoft did not respond. https://www.seattletimes.com/business/microsoft-cuts-10000-jobs-about-5-of-global-workforce/ The argument was always, Its pay in exchange for job security. Doesnt seem like that reason to stay holds water anymore. The layoffs are expected to include around 1,000 employees. Looks like most affected are consultants and project managers.3. Or are there more cuts planned this and next week? January 25Groupon, in an SEC filing, said it would reduce its head count by 500 employees, globally, in its second major round of cuts in recent months, after the e-commerce company cut another 500 positions last August. In other words, was a rip-the-bandaid approach taken or is there a storm, 1. Appears to be a mix of design, engineering, product, etc. February 22NPR President and CEO John Lansing announced the layoffs, which are expected to affect at least 100 of its roughly 1,100 employees, in a memo to staff Wednesday afternoon amid a slowdown in advertising revenue and as the global economy remains uncertain.. January 19Student loan servicer Nelnet announced it will let go of 350 associates hired over past next six months, while another 210 will be cut for performance reasons, telling Insider the cuts come as President Joe Bidens student debt forgiveness program continues to stall after facing legal challenges from conservative groups opposed to the measure. Not sure why these companies hire when they cant afford to keep them. Look Lenovo's way to find out. January 5Online apparel company Stitch Fix will lay off 20% of its salaried staff and close a Salt Lake City distribution center, founder and interim CEO Katrina Lake announced in an internal memo, after laying off another 15% of its staff last June. February 10Twilios cuts, which will affect just over 1,500 of the companys nearly 9,000 employees, according to Pitchbook, come as part of a major realignment planthe companys second in five months, following its decision to slash another 11% of its workforce last September, with CEO Jeff Lawson saying in a message to employees on Monday, its clear that weve gotten too big.. Microsoft also faces stiff competition in areas like cloud technology, which could be challenging to overcome. February 8Internet technology management company GitHub, which is owned by Microsoft, announced it is laying off 10% of its workforceroughly 300 of its 3,000 employeesofficials confirmed to Forbes, saying the move is part of a budgetary realignment intended to preserve the health of our business in the short term).
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