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Analysts expect Microsoft will post 10 percent income drop |
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Written by Peter Scott
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Wednesday, 21 January 2009 13:58 |
And cut 6,000 to 8,000 employees
Analysts contacted by Reuters expect Microsoft will post a 10 percent income drop to $17.7 billion, and revenues of $63.7 billion, down 4.4 percent on projections.
The company is expected to announce some layoffs, and estimate it will cut 6 to 8 percent of its 95,000 strong workforce. McAdams Wright Ragen analyst Sid Parakh says there's a chance additional cuts will follow later in the year.
Analysts believe cost reductions could come within the next few weeks, but speculate they will be gradual, and will include more targeted job cuts and attrition. A huge, single job cut announcement is not expected.
Microsoft is still refusing to comment job cut speculations.
More here.
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