Microsoft (MSFT) Said Planning Large Workforce Reduction Soon
Get Alerts MSFT Hot Sheet
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.7%
EPS Growth %: +15.1%
Join SI Premium – FREE
Microsoft (Nasdaq: MSFT) is trading nearly flat Tuesday following reports that the software giant might be close to announcing its biggest round of job cuts ever.
Bloomberg sees the cuts, which could top the 5,800 cuts made in 2009, coming as Microsoft moves to slim down and integrate Nokia's handset unit into it's corporate plans.
Reductions might be announced this week and will be focused in areas where Microsoft and Nokia overlap, such as marketing and engineering.
Last week, company CEO Satya Nadella sent a memo to employees that emphasized growth in mobile, productivity software, and cloud computing. He also noted that Microsoft would need to become more focused and efficient.
Microsoft last reported 127,014 employees, which includes 30,000 added from the Nokia deal.
Shares of Microsoft are up about 0.1 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- The Coca-Cola Company and Microsoft announce five-year strategic partnership to accelerate cloud and generative AI initiatives
- EU Antitrust Regulators Concerned About Impact of KKR, Telecom Italia Deal on Viability of Wholesale Market - Reuters
- Micron Technology (MU) plans to construct a $100B "Megafab" employing more than 9,000 workers in Upstate NY - Nikkei
Create E-mail Alert Related Categories
Insiders' Blog, RumorsRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!