Linked by Thom Holwerda on Thu 22nd Jan 2009 15:37 UTC
Microsoft After much, much, much speculation, Microsoft let the cat out of the bag today: due to weak results, Microsoft is going to cut 5000 jobs. Those 5000 jobs will disappear over the course of 18 months, with 1400 jobs being cut immediately. Quarterly results, as well as the cost-cutting measures, were made known in a press release today.
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HappyGod
Member since:
2005-10-19

Totally agree,

It's pretty appalling that companies are allowed to do this.

It's like the Commonwealth Bank in Aus not so long ago, made a record $2.6bn and sacked 1500 people. Governments need to regulate this kind of thing.

It's fair enough if companies are strapped and have to let people go, but this kind of thing is ridiculous.

Reply Parent Score: 3

andrewg Member since:
2005-07-06

If you're redundant you're redundant. Why should a company who no longer needs your services be forced to keep you on because once upon a time they needed you.

Keep in mind when times are good employees can jump around from job to job with no loyalty either in order to maximise their take home. So it seems fairly equitable to me. When you don't need their job anymore you leave, when they don't need your services they give you a severance package and off you go.

Please no tyrannical regulation.

Reply Parent Score: 1

HappyGod Member since:
2005-10-19

That's a pretty cynical view. Not all legislation of this kind has to be tyrannical.

I guess what I'm trying to say is that I would enjoy some legislation to force corporations to do what they should automatically do out of a sense of decency.

I also believe it's in their own self interest. Corporations take a narrow share-holder centred view, in fact they're required to take that view by law! But none of them ever actually think of the big picture.

Those 5000 people who are now out of work (and in this climate are likely to stay out of work) will join the thousands (millions?) of other people who are also jobless and therefore not spending. Not spending on Microsoft products, not spending full stop.

This just exacerbates the problem and ensures that this economic crises will be prolonged. Why is this a good thing when most of the corporations could have easily kept them employed, and helped bring the economy back online?

Edited 2009-01-23 23:17 UTC

Reply Parent Score: 2