Announcement

Collapse
No announcement yet.

Microsoft layoffs....

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Microsoft layoffs....

    TechSpot....

    Microsoft announces layoffs amid weak earnings

    By Jose Vilches, TechSpot.com
    Published: January 22, 2009, 11:36 AM EST

    The Microsoft layoff rumors turned out to be true, after all. Making its earnings announcement a bit earlier than anticipated, the company today revealed that it would immediately drop 1,400 employees, and might shed as many as 5,000 within the next 18 months, in response to the slowing economic activity and IT spending.

    The cuts will come across a number of divisions, including the company’s research and development, marketing, sales, finance, legal, human resources and information technology departments. The move is expected to reduce Microsoft’s annual operating expense run rate by approximately $1.5 billion and reduce fiscal year 2009 capital expenditures by $700 million.

    Microsoft also missed its earnings expectations for their fiscal second quarter, which ended on December 31. The software giant reported a 2 percent increase in revenue, drawing in over $16.6 billion, but also announced an 8 percent decline in operating income to $5.9 billion and net income dropped even further.
    Dr. Mordrid
    ----------------------------
    An elephant is a mouse built to government specifications.

    I carry a gun because I can't throw a rock 1,250 fps

  • #2
    My heart bleeds in sympathy.

    Many companies are currently using the crunchy crisis to rid themselves of dead wood where there was insufficient justification to sack them.
    Brian (the devil incarnate)

    Comment

    Working...
    X