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Jan. 7, 2009, AP file photo of Microsoft Corp. CEO Steve Ballmer delivering the keynote address at the International Consumer Electronics Show in Las Vegas. (AP Photo/Paul Sakuma, file)
John Cook over at TechFlash has published CEO Steve Ballmer's email to all Microsoft employees (subject line: "Realigning Resources and Reducing Costs"... ouch), in which Ballmer explains why the job cuts are necessary and outlines some of the other aggressive ways the company will be cutting costs. Among those strategies is a scale-back on the expansion of the Puget Sound campus. So far, the strategy to reassure the market has resulted in MSFT stock dropping to a low of $17.19.
Whether or not you love Microsoft as a corporate entity, all signs point towards a significant impact on our regional economy from this swath of layoffs. If you're a Microsoftie, good luck today--and please don't hesitate to write in and let us know how it's going over there.
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As corporate layoffs accelerate, could we look at other cutbacks to reduce the carnage and unemployment lines?
http://pacificgatepost.blogspot.com/2009/01/youre-fired-now-wheres-my-raise.html
…. Another attitude adjustment for corporate America’s senior executives.