WA Ping Watch out, neighbors. More $100,000 middle managers will soon be heading to Starbucks for applications.
Posted on 07/17/2014 6:54:56 AM PDT by John W
Microsoft CEO Satya Nadella wasn't kidding -- he really is making bold changes.
The software giant said it would cut 18,000 jobs within the next year -- about 14% of the company's 125,000 employees. That's by far the largest round of layoffs in the company's history.
The previous record came during the lowest point of the Great Recession, when Microsoft (MSFT, Tech30) cut more than 5,000 jobs in 2009 -- the first mass layoff in the company's history.
Most of the latest round of layoffs -- 12,500 -- will come from Nokia's devices and services business that Microsoft recently bought. In a memo to Microsoft's staff, Nadella said that Microsoft found many redundancies between the two companies, including both professional and factory workers.
(Excerpt) Read more at money.cnn.com ...
But this cannot be! Our economy is STRONG, our collective socialist will is STRONG. Our lies and manipulation of data are STRONG as are the obfuscations and misinterpretations of the media when it falls on the side of the Blessed One.
MSFT hits 14 year high and is over $45/sh for the first time since the dot com bubble.
We need more STEM workers and amnesty so says Bill Gates.
Wow. Just wow.
What can we say. We have been told that our economy is strong, and have been told that high tech companies such as Microsoft are leading the way to a 21st century economy. We have been told that such companies will carry our economy, as the traditional industrial jobs of the past have faded away or been exported to other countries.
We see that even a giant tech company such as Microsoft is not immune to mass layoffs.
Plucked from the webpage: “The previous record came during the lowest point of the Great Recession, when Microsoft (MSFT, Tech30) cut more than 5,000 jobs in 2009 — the first mass layoff in the company’s history.”
The “Great Recession” eh.
If most of the laid off workers are Nokia people then they will be laid off in Finland.
It’s just the elimination of redundant positions at what was once Nokia. There were two companies, now there is only one. Both sets of employees are not needed.
hopefully they will get rid of all the India tech support guys. I cannot understand a word they speak. Bring the remaining jobs back to the USA.
WA Ping Watch out, neighbors. More $100,000 middle managers will soon be heading to Starbucks for applications.
Thank you Nancy Pelosi!
Agree. Yet somehow, I suspect that none of the 18,000 who have lost their jobs will appear on the unemployment numbers issued by our BLS. Further, I expect that this will eventually be touted as some Government advance in the new economic standard of equity.
My guess is that the government is now in their cabal’s lair, running focus-group presentations to dumbass entitlement leeches about how “those MS employees aren’t losing their jobs! - They’re getting a terrific opportunity at time off to do whatever-dude, and they’ve mostly got all that MS stock to fall back on.” I guarantee it.
You should join the government focus group excuse idea people. Or maybe get a place on their media ‘excuses’ team. :o)
I get investment advisers telling me that my retirement funds need to be in aggressive stock funds to take advantage of this “irrationally exuberant” stock market, but I’m not buying it. I am seeing too many businesses shuttered, too many lay-offs, too many signs of a coming depression that will make 2008 look like a picnic. This administration is setting the stage for it, they are exacerbating the situation by their policies, and the latent fall is just around the corner.
I’m afraid that when the fall suddenly occurs, the markets WON’T LET YOU, by executive decree, of course, sell out of your position. This sounds like crazy talk, but look at what’s happened so far with his edicts?
Correction: ....will NOT appear....
I think our economy is weak, no doubt about that statement, and mass layoffs are a horrible thing in most cases. However, MS really hasn’t had a stellar record as of late. They botched the release of Windows 8, the Surface looks to be a failure, Sync is not a good OS system for auto use, barely anybody uses the Windows phone, and the Xbox 1 pissed off gamers with their draconian DRM and expensive price tag. You just can’t keep on releasing crappy products and hope to grow off that type of track record.
And their customer service skills are completely absent. They assume that their cultural norm of rudeness to customers will fly here.
Well that’s exactly what is taking place.
I know lots of people desperately want to say “This is because M$ is crap, and they are going out of business” or some other nonsense. But everyone has known for months that acquiring Nokia will lead to redundant staff being let go.
yeah....they got Apple iPhone fever instead of sticking to where their strengths were. Regardless, BLS will not include these people in their weekly numbers. It just will not happen. Too many lies are at stake.
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