Microsoft plans to make a new round of layoffs across the company, impacting employees whose performance has been deemed to fall short of its standards.

Microsoft is laying off "a small percentage of its workforce," as the tech sector continues to endure a turbulent period.

Microsoft employs hundreds of thousands of people globally and has implemented multiple rounds of major layoffs over the years.

Microsoft Corp. (Nasdaq: MSFT) is planning a round of performance-based layoffs, the company confirmed to the Business Journal Wednesday. A spokesperson for the Redmond-based tech giant declined to disclose how many people will be affected or to what extent the layoffs will impact its Puget Sound-region workforce.

According to reports, Microsoft is set to implement job cuts focused on underperformers, affecting several departments. The company is reportedly committed to retaining high performers and replacing vacated roles,

In the options pits, Microsoft stock has been popular with call traders. This is per its 50-day call/put volume ratio of 2.10 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE),

Microsoft is cutting a small percentage of jobs across departments, based on performance, the company confirmed to CNBC on Wednesday.

Microsoft is cutting less than 1% of its workforce across departments based on employee performance, according to a spokesperson. The company had 228,000 employees as of June. Microsoft’s stock rose 12% last year,

Microsoft is reportedly planning to initiate performance-based job cuts across multiple departments. The news was first reported in Business Insider and later corroborated by CNBC. According to CNBC,