Microsoft says it's laying off 10,000 workers

Microsoft is cutting 10,000 workers over the next eight months, the software giant said in a securities filing Wednesday.

The company said it will start notifying workers today. The cuts represent "less than 5 percent of our total employee base," it said.

Customers, after spending lavishly on digital services during the pandemic, are now pulling back "to do more with less," Microsoft said.