I just found this on AP and it definitely says that even the big boys are subject to change.
REDMOND, Wash. (AP) — Microsoft Corp. said Thursday it is cutting 5,000 jobs over the next 18 months, a sign of how badly even the biggest and richest companies are being stung by the recession.
The layoffs appear to be a first for Microsoft, which was founded in 1975, aside from relatively limited staff cuts the software company made after acquiring companies.
The company announced the cuts as it reported an 11 percent drop in second-quarter profit, which fell short of Wall Street’s expectations. Microsoft shares plunged 7 percent in pre-market trading.
Microsoft said it was being hurt by deteriorating global economic conditions and lower revenue from software for PCs. The holiday quarter of 2008 was the worst the PC market had seen in several years.
The Redmond-based company says profit slipped to $4.17 billion, or 47 cents per share, from year-ago earnings of $4.71 billion, or 50 cents per share.
It says total revenue edged up 2 percent to $16.63 billion, as software for corporate computer servers helped offset an 8 percent drop in revenue for PC software.
The results missed Wall Street’s forecast for earnings of 49 cents per share on sales of $17.08 billion.
Microsoft says the job cuts will reduce operating costs by $1.5 billion as it prepares for lower revenue and earnings in the second half of the year. The company says it is unable to offer profit and revenue guidance for the rest of the year, because of the market volatility.
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Microsoft to slash 5,000 jobs, reports lower-than-expected profit and sales for 2nd quarter http://tinyurl.com/dmlgvh from: <a rel="nofollow" href="http://twitter.com/therealjosh">@therealjosh
*Microsoft cuts 5,000 jobs over next 18 months http://bit.ly/15cMFU
RT <a rel="nofollow" href="http://twitter.com/therealjosh">@therealjosh Microsoft to slash 5,000 jobs, reports lower-than-expected profit and sales for 2nd quarter http://tinyurl.com/dmlgvh
This one could hit us locally in the Red River Valley. Thanks for posting, something to definitely keep our eye on. Wonder who is next?
I heard recently that Microsoft's share in the OS market has dipped below 90% – presumably thanks to the increased usability of Linux (no more learning code!). I certainly haven't looked back since ditching XP for Suse a couple of months ago and many others will be experiencing the same. Indeed, the National Health Service in the UK is now bound by law to acquire Linux machines when buying new IT kit so as to save on exorbitant licensing costs. That European local authorities are following a similar vein must be worrying the software giant …
Another good argument why having your own business is the best
Seems like layoffs are planned for every company – my Dad might actually come work for us if his company lays him off (which he thinks could be any day now.)
Our company just laid off 10 employees on my floor today with more expected tomorrow. Layoffs are everywhere in every market. These Corp giants are all cutting as well.
Can't wait to see how many Google cut.
Steve
Chelle yours argument is right the Own Business is best. In Job the Any time you get the layoff. but in Business you can't get the Layoff. In this time every company are give the layoff.
It's very tough time for employees. So many big companies are recession therefore so many employees are lost their jobs.
Hi josh, its strange recession effect i can see in coming days in 09, MS has take an initiative. Hope 09 will pass smoothly…
It's very big news MS slash 5000 Jobs. Recently i listen in news total 2.5 lakhs employees was lost their jobs. I hope everything gone be all right.
it is a terrible news, one of my friend is working in the motorola, and he told me that the motorola close some departments which related the celluar phone products