Fresh job cuts are sweeping the technology sector with Microsoft the latest company to be making layoffs. The numbers aren’t huge. 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.

The job cuts follow multiple rounds of layoffs within the company's gaming division last year. Microsoft Corp. (Nasdaq: MSFT) is planning a round of performance-based layoffs, the company confirmed to the Business Journal Wednesday.