Microsoft Lays off $5000 Employees
Microsoft Lays off $5000 Employees
Economic hardships are getting to the best of companies. Microsoft announced it will layoff 5000 people, 1400 immediately and rest over the course of 18 months. The departments that will get hit are: research & development, marketing, sales, finance, legal, human resources and IT.
Despite layoffs (or with help of layoffs) Microsoft was able to perform for shareholders making a whooping $16.63 billion in revenues in the second quarter which ended on Dec. 31, 2008. The increase is 2% in comparison to the same period last year. The net income is $4.17 billion, while Google is at $1.2 billion.
Google has been laying off employees as well, which include external contractors, part time workers and some of the internal workforce.
Microsoft and Online
Microsoft experienced losses in its online sector, however search advertising grew 7% according to an associated SEC filing. In terms of market share Microsoft is still in single digits holding 8.3% according to December report by Comscore.
Yahoo – Microsoft deal is still on the table and will most likely occur as Microsoft require Yahoo to effectively compete with Google.
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