Microsoft will reduce its workforce by 10,000 jobs by the end of Q3 2023, the company said in a Jan. 18 blog post.

The company did not specify which roles would be cut but said it will maintain hiring in “key strategic areas.”

“We know this is a challenging time for each person impacted. The senior leadership team and I are committed that as we go through this process, we will do so in the most thoughtful and transparent way possible,” Microsoft CEO Satya Nadella said in the post.

In the statement, Nadella said the company would provide severance, six months of continuing healthcare coverage and career transition services, among other services. The cuts amount to “less than 5%” of the company’s employee base.

Microsoft is far from the first tech company to announce layoffs or rescind job offers as a predicted recession looms. Amazon, Meta and Alphabet have all announced some sort of staffing reduction, and Twitter’s layoffs and subsequent fallout have been well reported. Apple is so far the only major U.S. tech company not to announce layoffs, CNBC reported Jan. 18.

The timing of the news coincides with Microsoft also announcing it will implement unlimited paid time off for salaried employees in the U.S.

Nadia Rawlinson, former chief people officer at Slack, recently wrote for The New York Times that the age of Silicon Valley benefits excess — paired usually with rapid growth that required gobs of new talent — is likely coming to an end.

“The layoffs are part of a new age of bossism, the notion that management has given up too much control and must wrest it back from employees,” Rawlinson wrote. “After two decades of fighting for talent, chief executives are using this period to adjust for years of management indulgence that left them with a generation of entitled workers.”

Combined with more workplaces calling workers to return to the office — including Elon Musk’s edict at Twitter — change could be on the horizon for tech workers.