Microsoft Corporation (NASDAQ:MSFT) is on a trimming spree, which will see the company laying off possibly 2900 more workers in the next 9 months. The Street’s Kurumi Fukushima recently reported on the lay-offs by Microsoft Corporation (NASDAQ:MSFT) and the company’s plans for future.
“Microsoft is slashing 2,100 jobs and closing its Silicon Valley research and development operation. Microsoft’s new CEO Satya Nadella has a goal of trimming 18,000 jobs or about 14% of its workforce. This is a second waveof job cuts at the tech giant, in July the company announced 13,000 cuts. If Nadella wants to meet his goal, that means we can expect 2,900 more layoffs at Microsoft in the next nine months,” Fukushima said.
There is no doubt that Satya Nadella is transforming Microsoft Corporation (NASDAQ:MSFT) in his own ways, ever since he joined Microsoft Corporation (NASDAQ:MSFT) is making great progress in the enterprise solution, productivity and cloud segments. The real test of Nadella will lie in keeping Microsoft Corporation (NASDAQ:MSFT) relevant in the internet space. Though the company has many services, it is hardly the leader in the internet tech space.
Many people on street have also believe that Microsoft Corporation (NASDAQ:MSFT) shouldn’t have acquired Nokia as this marriage was never meant to prosper. They might not be wrong as barring Xbox, Microsoft Corporation (NASDAQ:MSFT) has had little success in the hardware market. A lot of people who have been laid-off in the recent firing are actually Nokia employees and it won’t be surprising if the majority of the next 2,900 people fired by Microsoft Corporation (NASDAQ:MSFT) worked for the Nokia division.
As of June 30, 2014 Jeffrey Ubben’s ValueAct Capital owns over 74 million shares in Microsoft Corporation (NASDAQ:MSFT).
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
Suggested Articles:
Most Expensive Airline Tickets
