No job cuts in India
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Crickey - Microsoft has announced it will cut 5,000 jobs across numerous divisions, including R&D, marketing, human resources and its legal department. The company claims it will make the cuts over the next 18 months, but 1,400 workers will get their marching orders today.
The company posted a net income of $4.17 billion, and a revenue of $16.6 billion. CEO Steve Ballmer said in a statement that the company is "not immune to to the effects of the economy," but reiterated his confidence in the strength of Microsoft's product portfolio.
Microsoft was expected to make the announcement tomorrow, but chose to surprise Wall Street with some rather bad news today.
The layoff, however, would not be impacting the Indian operations. "It's not going to impact us. No job cuts in India," a Microsoft India spokesperson said in New Delhi.
In light of further deterioration of global economic conditions, extra measures to manage costs are being taken, including the reduction of head-count-related expenses, vendors and contingent staff, facilities, capital expenditures and marketing.
The company posted a net income of $4.17 billion, and a revenue of $16.6 billion. CEO Steve Ballmer said in a statement that the company is "not immune to to the effects of the economy," but reiterated his confidence in the strength of Microsoft's product portfolio.
Microsoft was expected to make the announcement tomorrow, but chose to surprise Wall Street with some rather bad news today.
The layoff, however, would not be impacting the Indian operations. "It's not going to impact us. No job cuts in India," a Microsoft India spokesperson said in New Delhi.
In light of further deterioration of global economic conditions, extra measures to manage costs are being taken, including the reduction of head-count-related expenses, vendors and contingent staff, facilities, capital expenditures and marketing.