Microsoft CEO Steve Ballmer announced that Microsoft’s Q2 earnings on $16.6 billion in revenue are “approximately $900 million below our earlier expectations.” This comes after Microsoft announced huge layoffs in response to the deteriorating economy slowly creeping into the tech sector.
Microsoft’s miss took its share price down more than 10% and closed to $17.20 share in Friday trading.
“As part of the process of adjustments, we will eliminate up to 5,000 positions in R&D, marketing, sales, finance, LCA, HR, and IT over the next 18 months, of which 1,400 will occur today”
Check out the e-mail from Steve Ballmer in its entirety after the break. (And maybe a certain video featuring the man himself!)
PDF of Ballmer’s email to employees: We couldn’t resist…
Hahaha, the video is hilarious. Sucks for Microsoft employees though…
More layoffs is bad news, hopefully micro and other tech-companies recover soon - that video is amazing… -Vejay
idiot ballmer, idiot!!!
[...] Last month, Microsoft announced plans to eliminate 5,000 jobs with CEO Steve Ballmer explaining why in his Letter to Employees, right here. [...]