Fresh job cuts are sweeping the technology sector with Microsoft the latest company to be making layoffs. The tech giant is cutting less than 1% of its employees, with the reductions based on performance,

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 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,

Redmond claims cuts are performance based Microsoft kicks off the new year with more job cuts, as fewer than 1 percent of employees reportedly face the axe.… As first reported by Business Insider, Microsoft is trimming its workforce again,

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),