Microsoft slashes 3,000 jobs; says the lay-offs binge to continue

.

Microsoft slashes 3,000 jobs; says the lay-offs binge to continue

Software maker Microsoft is almost through with its January-proposed $1.5 billion cost-cutting endeavor, having notified over 3,000 of its employees on Tuesday that their jobs were being terminated. In the beginning of the year, the company had announced its intentions of slashing 5,000 jobs by June 2010, and had laid-off 1,400 workers in the first round.

A large part of the lay-offs in both the rounds came from Microsoft’s research and development, finance, sales, marketing, legal, human resources and IT operations’ departments. Though a majority of the January job-cuts were from the US - the first companywide layoff in its history -, the second round was divided more or less uniformly between US and overseas workers.

In addition to the already-executed job-cuts, Microsoft - giving an explicit indication of the recession-hit economy further eroding the company’s revenue – said that it might continue with its job-cuts’ binge with more lay-offs in the coming months!

Steve Ballmer, the Microsoft CEO, has informed the employees of the company’s plans with regard to the lay-offs to save costs. In a memo to the employees, Ballmer said: “As we move forward, we will continue to closely monitor the impact of the economic downturn on the company and if necessary, take further actions on our cost structure including additional job eliminations.”


Latest News

Depending on Regulatory Approvals, Ferrari CEO Expects to Conclude IPO, Spin- of
Facebook’s Revenues Surpass Expectations
Fed Has Bright View of a Strengthening U.S Economy But Will be ‘Patient’ with In
Don Thompson  to Retire From the Post of  McDonald’s chief executive
Consumers Confidence Grows but Businesses are Worried
CEO says The Present Year is one of Transition for AT&T Inc.
The Federal Reserve Meets for two Days: Likely to Stick to Initial Plans of Incr
New Areas to be Opened Off the East Coast for Oil Exploration
Even with Low Inflation the Feds are Expected to Raise Interest Rates
Mattel Missed Analyst’s Expectation, Fires CEO
Reports of Mass Layoffs Flatly Denied by IBM
Good News for the Diabetic: FDA Approved Mobile Medical Application for Sharing