06.30.09
Microsoft to Cut Another 2,000+ Jobs
Summary: Microsoft carries on shrinking while it’s borrowing money
When it comes to Razorfish, Microsoft has already been laying off employees. Rumours about sale of the whole unit have circulated for a while, with evidence that Razorfish was quietly using GNU/Linux. It is now more or less confirmed that Microsoft is to shed off another 2,000+ employees, according to reports.
Microsoft has hired Morgan Stanley to find a potential buyer for its Internet ad agency Razorfish, according to the Financial Times. The report indicates that Publicis Groupe, a French marketing company, as well as other agency groups, such as Omnicom and WPP, could be potential buyers for the company valued somewhere between $600 million and $700 million.
It is not yet known who will become a buyer.
Now, the software giant is formally moving ahead with the plan, hiring Morgan Stanley to help find a buyer.
More coverage can be found in:
- Microsoft Looking for Razorfish Bidders
- Razorfish Deemed Poor Fit for Microsoft
- Razorfish put up for sale by Microsoft
- Microsoft Reportedly Seeks Buyer For Razorfish
- Report: Microsoft to Sell Razorfish Ad Agency
- Microsoft to sell Razorfish; Publicis Groupe possible bidder
- Microsoft Shops Web Agency To Advertising Holding Firms
- Report: Microsoft looks to sell Razorfish
- Microsoft could be selling Razorfish
- Microsoft to offload digital ads agency?
- Publicis: No Comment On Reports It’s A Bidder For Razorfish
- Microsoft reportedly to put Razorfish up for sale
Microsoft could really use some extra cash now that it's borrowing money. The bottom line is that Microsoft carries on shrinking. █
Chips_B_Malroy said,
June 30, 2009 at 4:35 pm
2000 more employees laid off? And this right before the next financial quarter for M$ comes out. This is not following the pattern of announcing the layoffs right after, or when the detail of the quarter, is released. While nobody wants to see people lose their jobs during a recession/depression, still, this is the likely thing to happen at M$. The Dinosaur is looking very long in the tooth these days.