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.

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 planning to lay off underperforming employees, marking yet another round of firings, according to a Business Insider report. These job cuts are happening across all parts of the company,