Speaking before the layoff announcement at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Microsoft CEO Satya Nadella said that the company was not immune to a weaker global economy.Tech CEOs, from Meta’s Mark Zuckerberg to Salesforce’s Marc Benioff, have blamed themselves for over-hiring early on in the pandemic and misreading how a surge in demand for their products would cool once Covid-19 restrictions eased.While the overall labor market remains tight, layoffs in the tech sector have mounted at a staggering pace.A recent report from outplacement firm Challenger, Gray & Christmas found tech layoffs were up 649% in 2022 compared to the previous year, versus just a 13% uptick in job cuts in the overall economy during the same period.The software company’s Azure cloud computing business drove revenue growth over the three months through September, as sales in its personal computing division decreased slightly."