Microsoft cutting costs by firing 5000 employees
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Microsoft to sack 5,000 workers after poor financial year.
Microsoft has announced 5,000 jobs will go in light of the dismal economic climate.
As the computer software giant announced its earnings, figures show that the company has not been performing as expected.
Microsoft achieved a mere two per cent year-on-year increase in revenue and shares fell huge eight per cent over the past 12 months.
Layoffs have already begun with 1,400 employees shown the door last month which will save Microsoft approximately $1.5 billion.
The company as a whole will be going under the knife, with travel and marketing cost cuts, as well as salaries, and even office expansion.
The blame for the decline goes to a “PC market weakness and a continued shift to lower priced netbooks”. The economy has also had a crippling effect as people are spending less on IT.
CEO Steve Ballmer said: “While we are not immune to the effects of the economy, I am confident in the strength of our product portfolio and soundness of our approach. We will continue to manage expenses and invest in long-term opportunities to deliver value to customers and shareholders, and we will emerge an even stronger industry leader than we are today.”
Two new Windows products are causing excitement. One is their latest browser, Internet Explorer 8, the first browser the company offers that supports web standards.
Secondly, Microsoft’s next operating system, known as Windows 7, has huge potential to boost revenue. Both products are currently in Beta phase of development, with the Windows 7 launch date said to be somewhere in 2010.
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Comment by Anonymous on 2010-05-04 02:32:50