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That would sure not help the West Coast housing situation...
http://www.dailytech.com/Rumor+Micro...ticle13841.htm
http://www.dailytech.com/Rumor+Micro...ticle13841.htm
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Re: Rumor: Microsoft to Cut 15,000 Employees in Jan. 2009
Microsoft "employee stock option effect" was one of the main drivers of escalating house prices in the Puget Sound area in the 1990's. Would be ironic if MS layoffs become the psychological catalyst for the other side of that now...Originally posted by LargoWinch View Post -
Re: Rumor: Microsoft to Cut 15,000 Employees in Jan. 2009
Turns out that the rumor was true, but the cut overstated...
Jan. 22 (Bloomberg) -- Microsoft Corp. will cut as many as 5,000 jobs, the first companywide firings in its 34-year history, and said sales and profit will probably drop as the recession eats into software demand. The stock fell the most since 2000.
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http://www.bloomberg.com/apps/news?p...zR0&refer=homeLast edited by LargoWinch; May 06, 2009, 08:49 AM.Comment
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Re: Rumor: Microsoft to Cut 15,000 Employees in Jan. 2009
Microsoft is a company that seems to have no prior experience with large scale labour cost cutting. You can be virtually certain that they have underestimated both what they need to do on the cost front, and the results [benefits] they will realize from today's announcement.Originally posted by LargoWinch View Post
According to the article only 1400 jobs go today - that's less than 2% of staff. Likely all contract workers, psychologically the easiest to let go for most managers, so the cost savings are not proportionate to the headcount cut, since cutting contractors doesn't do much to reduce fixed overhead costs. Microsoft intends to take 18 months to find another 3600 job cuts worldwide...that's about 6 people every calendar day. I'll bet more than 6 people a day voluntarily decide to quit their jobs across the world of Microsoft.
If Microsoft really needs to cut costs there will be more layoff announcements to come...you can count on it. 15k job cuts would seem almost inevitable, barring a miracle.
[Sorry for the rather clinical tone, but a career in the deep cyclical resource sector means you learn more about corporate restructurings and layoffs than you ever imagined necessary. And it ain't ever pretty]Comment
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Re: Rumor: Microsoft to Cut 15,000 Employees in Jan. 2009
Don't be.Originally posted by GRG55 View Post
My career has been "managing" my portfolio and two analysts (both in their 20s) since about a year.
I thus think it is fair to assume that your point, GRG55, is well taken and appreciated. Actually, I never thought of contract staff, for some reason I had "part-timers" in mind...
As a side note; are you available for employment? Because we could sure benefit [alot] from a guy like you. We could perhaps even move the bunker (or build a new one)!Comment
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Re: Rumor: Microsoft to Cut 15,000 Employees in Jan. 2009
I am getting closer everyday unfortunately...
Bold is mine.May 5, 2009 12:10 PM
Microsoft (NSDQ: MSFT) on Tuesday said it laid off 3,000 employees from its U.S. and worldwide locations as part of a previously announced cost-cutting initiative.
"This is difficult news to share," Microsoft CEO Steve Ballmer said in an e-mail to employees. "Because our success at Microsoft has always been the direct result of the talent, hard work, and commitment of our people, eliminating positions is hard."
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