Microsoft Corp (MSFT.O) laid off under 1,000 employees across several divisions this week, Axios reported on Tuesday, citing a source, making it the latest U.S. technology company to cut jobs or slow hiring amid a global economic slowdown.

The layoffs affected less than 1% of Microsoft’s total workforce of around 221,000 as of June 30.

“Like all companies, we evaluate our business priorities regularly and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead,” a Microsoft spokesperson said.

The company had said in July that a small number of roles had been eliminated and that it would increase its headcount down the line.

Several technology companies, including Meta Platforms Inc (META.O), Twitter Inc (TWTR.N), and Snap Inc (SNAP.N), have cut jobs and scaled back hiring in recent months as global economic growth slows due to higher interest rates, rising inflation and an energy crisis in Europe.