Microsoft looking to cut even more jobs?
Section: Business News, Communications, Cellphones, Smartphones, Computers, Desktops, Laptops, Gadgets / Other
Back in January when Microsoft announced their earnings for second quarter, things were not going well for them. As a result, they were forced to enact job layoffs over an 18 month period totaling 5,000 job cuts. At that time, this was already a lot of jobs to be lost for the suffering company. Today, an analyst, Sid Parakh, at McAdams Wright Ragen, predicted Microsoft to cut even more jobs as they are not able to gain a profit.
Even though Microsoft outlined an 18 month plan to cut jobs, Parakh predicts the job cuts would be occur sooner, rather than later. In addition, he predicts that Microsoft will be performing even worse than what most major analysts are saying right now. The Wall Street consensus is that Microsoft will be earning around $14.1 million, however due to lack of good sales and profit, Microsoft will most likely not even reach a global revenue of that figure. If this is all true, then it is likely that Microsoft will make more job cuts in efforts to shrink the payroll and increase efficiency.
At this time, Microsoft has not made a comment on this matter, so it will be interesting to see what will happen in the near future.
Via [TechFlash]
Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article »
