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Microsoft advised to lay off over 9,000 employees
Posted by Spy December 29, 2008 11:43 AM with no comments
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The world's top software firm Microsoft has been asked to cut its workforce by 10 per cent, or about 9,100 employees, to tell the
market that profits are more important than revenue growth in difficult times.

Brokerage firm Oppenheimer & Co's analyst Brad Reback has said in a report on Microsoft that such layoff exercise "would be a healthy move for the company."

The move would be well received by the market and would "signal that profitability is more important than revenue growth during this very difficult time," Reback added.

Calling for a 10 per cent reduction on the company's payrolls, Reback said in his report for the institutional investors of Microsoft that this would result in an approximately 10 per cent gain in its earnings per share.

The software giant had close to 91,000 employees on its payrolls at the end of July-September quarter.

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Source: economictimes.indiatimes.com

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About Spy

Hello world, as they say. I'm in Melbourne Australia and work as a Systems Administrator. I go to work every day with a smile on my face as I just love my work. Our company works across 30+ sites around the state so I travel a bit. We use mostly MS products, IBM hardware and 100% Cisco networking...it's a sweet mix for sure. I've been around Bink's site since it's inception way back when it was just a group on the MS site...that was a while ago. Bink.nu is the leading source of Microsoft news on the web that's for sure and I love being a part of Steven's team. Anyway, hope you enjoy the site.
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