Microsoft May Accelerate Buybacks
Given the recent weakness in Microsoft’s stock, we have assumed the company will likely accelerate its pace of buyback from the September quarter of $6.6 billion to roughly $8 billion for the next several quarters, resulting in a net reduction in fully diluted shares outstanding of 300 million per quarter.
Cutbacks are necessary. We wrote about layoffs recently, so we append related links at the bottom of this post. But whereas the big news is continued discussion about Microsoft’s need to lay workers off, the bigger news, which is announced with confidence by a high-profile Web site, is that Microsoft will be axing far more than speculations first suggested.
The rumor that Microsoft was set to lay off people on January 15th, 2009 is no longer a rumor but a fact. Staff at Microsoft have been informed that the company is readying major layoffs to its worldwide operations and it’s not a small cut, either.
Currently Microsoft employs about 90,000 people across the world and from what we’re hearing, some 15,000 of those are expected to be giving marching orders come January 15th. That’s almost 17 percent of Microsoft’s total work force, not exactly a small number.
- Quick Mention: Layoffs at Microsoft Begin
- Microsoft (MSFT) Sank to $18.74 Before Rebounding
- Microsoft Layoffs Actually Began Years Ago, More Likely to Come
- Eye on Microsoft: Feeling the Pinch Again
- Microsoft Chief Technical Officer Quits, Replacement Made for Another Quitting CEO, Operations Head Bumped
- Quick Mention: More Layoffs at Microsoft
- Microsoft Layoffs Worse Than Initially Reported
- Microsoft Under the Scalpel
- Rumours: More Microsoft Layoffs Next Month
- On Being Rich… On Paper
- We Live in Interesting Times