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02.27.09

Microsoft Cuts by Another 10%… of Wages

Posted in Finance, Microsoft at 8:48 am by Dr. Roy Schestowitz

Cringely believes that half of Microsoft’s staff should be considered redundant [1, 2] and analysts insisted that Microsoft’s layoffs targeting over 5,000 employees were not sufficient because Microsoft is in deep financial trouble. Ever since then, Microsoft has cut its spendings on contractors by almost 15% and more layoffs have affected a large Microsoft subsidiary as well. Now it gets grimmer for temporary workers, some of whom are potentially foreign [1, 2, 3, 4, 5].

Microsoft slashes rates for temp workers, blaming bad economy

[...]

Microsoft, citing the “realities of a deteriorating economy,” will reduce by 10 percent the amount it pays employment agencies for many of its temporary workers — and cut by 15 percent the target billing rate for future temporary work.

The above news comes from Seattle, which is biased in Microsoft’s favour. There are more such reports from Seattle.

It’s no surprise that Microsoft vice presidents quit in droves just before the announcement of layoffs last month [1, 2]. They knew very well what was coming because they held top positions. There was plenty for them to be worried about.

USS Towers - sinking

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