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Microsoft Announces Record 18,000 Layoffs, Three Time More Than Expected
While the news was reported earlier this week, it is perhaps notable that what was once considered the leading US tech company has also succumbed to the great "jobless" US recovery (in which the US economy is somehow adding 200K+ jobs every month even as it is firing millions). Furthermore, what was supposed to be 6,000 layoffs has just tripled to 18,000, which also happens to be the largest round of layoffs in MSFT history, surpassing the previous record of 5,800 set back in 2009.
From the PR:
Microsoft Corp. today announced a restructuring plan to simplify its operations and align the recently acquired Nokia Devices and Services business with the company's overall strategy.
These steps will result in the elimination of up to 18,000 positions over the next year. Of the total, about 12,500 professional and factory positions will be eliminated through synergies and strategic alignment of the Nokia Devices and Services business acquired by Microsoft on April 25.
The actions associated with the plan are expected to be substantially complete by Dec. 31, 2014, and fully completed by June 30, 2015.
The company expects to incur pre-tax charges of $1.1 billion to $1.6 billion over the next four quarters, including $750 million to $800 million for severance and related benefit costs, and $350 million to $800 million of asset-related charges.
If only Tim Geithner had qualified his "Welcome to the Recovery" August 2010, NYT oped a little bit better, none of this would have been a surprise. Actually, it isn't a surprise at all. And now, back to MSFT stock which surges on the news and lifts the market to recorder highs even as thousands more end up on the street, which has largely been the whole story of the "recovery" to date.
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If you were in any way, shape or fashion affiliated with the Windoze phone fiasco, you were indeed doing absolutely fuck all of importance....
Never have the words unmitigated disaster been more a propos.
These 18,000 former employees will be heavily recruited by fast food chains. There new income levels will be supplemented by EBT cards for all. Some may go back to school and live off student loans for a few years; hoping they will eventually be forgiven anyway. It is Win-Win for the oligrachs. MS stock is exploding to all-times highs on this cost-saving, socialize their burden, announcement.
Pissed off ex-employees tend to open source closed applications. I hope they are paying these people a good serverance package to buy them off like Glenn Greenwald.
Even the IRS has learned that anything you type into Microsoft Office or Microsoft Outlook is hard to cover up, and is being shared with the NSA, CIA, ATF, FBI, and your local thug cops. Microsoft is just learning that customers have finally gotten wise to this as well, and are switching off Microsoft products. And for certain, Microsoft will not be needing any Russian, German, or Chinese versions of their products in the future.
Remove that Ballmer fat
Microsoft should be awarded for enginering a OS thats harder to use everytime a new OS is released, this is definitly something that no one was able to figure out in the past.
Way to go bitchez!
The Win. Phones are great. I have a Nokia Lumia..the anti iphon.
Indians do a poor job authoring software. A big reason why msft has crappy products.
And do stock indices show any of this bad news?
No.........
Wait until the Windoze phone division finally takes it in the ass. What a sorry fucking excuse for a phone/OS. I'm honestly still surprised they are in circulation. That should be good for another 10K cut, too.
What countries are the layoffs from?
What countries are the layoffs from?