07:56 AM EDT, 04/07/2025 (MT Newswires) -- Microsoft's ( MSFT ) Wicresoft joint venture will shutter operations in China from Tuesday, Chinese media outlet Caijing reported Monday.

The move is likely to lead to almost 2,000 layoffs, according to the report.

Microsoft ( MSFT ) and Wicresoft did not immediately respond to MT Newswires' requests for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)