Microsoft rose more than 1%, as the company will offer buyout packages to 60,000 employees in its latest round of cost-cutting.

Microsoft rose over 1% intraday on October 26, reaching a market capitalization of $3.94 trillion, according to BIT (Bit.com) market data; meanwhile, the company announced it will offer voluntary separation packages to 60,000 employees as part of a new round of cost-cutting—covering eligible employees at level 70 and below across teams in Canada, India, the UK, and the U.S.