Microsoft is planning to halt hiring in part of its consulting business in the U.S. in a bid to cut costs, CNBC reported on Tuesday, citing an internal memo.

Microsoft (NASDAQ:MSFT) plans to halt hiring in part of its U.S. consulting business, according to a report by CNBC, which cited a leaked internal memo. The freeze is expected to remain in place for the remainder of the current fiscal year,

Microsoft plans to pause hiring in part of its US consulting business, impacting less than 1% of its workforce. The company targets 35% cuts in marketing and nonbillable spending while urging remote sessions over internal travel.