The Sky Is Falling. Microsoft is Laying Off
Microsoft is cutting jobs for the first time in its history. Reason? They only made $4.5 billion in profit in the 2nd quarter.
I know, I know, how could any company possible live with only $4.5 billion. Those poor executives probably only took home $10 million dollar bonuses instead of $20 million. They will probably have to cut back on spending. Maybe buy less homes and cars. Maybe fire some of their personal staff.
I know what some of you nerdy types with degrees in economics are thinking; “Microsoft is doing this for their shareholders”. The average shareholder probably doesn’t care that they only made $.47 per share as opposed to the $.50 per share last year. Only the wealthiest shareholders care about that; the ones that own 10’s of thousands of shares are the shareholders that Microsoft cares about.
Executives get a bonus cut and the biggest shareholders make a few hundred thousand less, so lets can 5,000 employees because the wealthiest of the wealthy cannot bare losing a few bucks.
I think the sad fact is that companies are using the market as an excuse to lay off people. In better times this would cause alarms, but now it goes almost as norm.
This makes me sick. I agree.
I would expect companies that do well (overall) to show some leadership and faith in America. I wish they would start to send a message that they would cut almost anything rather than jobs. Contribute to the solution of raising people’s confidence. Otherwise you are just contributing to the uncertainty and fear that is such a big factor of our current situation.
Shame on you Microsoft.
P.S. You all should get Macs…. Just sayin’.