STORY: :: Microsoft to cut about 4% of jobs amid hefty AI bets:: The tech giant is looking to rein in costs amid hefty investments in artificial intelligence infrastructure:: The Windows-maker had about 228,000 employees worldwide as of June 2024:: The company had pledged $80 billion in capital spending for its 2025 fiscal year:: But the soaring cost of scaling its AI infrastructure has weighed on its margins:: Microsoft said it plans to reduce organization layers and streamline its products, procedures and roles:: Microsoft confirmed to Reuters that its gaming division was impacted by the layoffs:: Big Tech peers like Meta, Amazon and Alphabet's Google have also announced job cuts in the past year...

Yahoo Finance's John Hyland takes a closer look at some of the top stories on Wall Street as part of today's Market Minute. Investors are shrugging off the latest ADP report showing an unexpected decline in job growth for June. Tesla (TSLA) stock is climbing despite the company reporting a 13% drop in vehicle deliveries in its second quarter. Microsoft (MSFT) plans to cut 9,000 jobs in its second major workforce reduction this year. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute...