Stitch, check out the link:
Layoff MS
Man, I never thought I would see this! I still remember when we had layoffs at AlliedSignal, how I wished I was at one of the technology companies that was hiring. It shows how bad the economy is right now. A layoff of 5000 is pretty substantial, and the sooner these people are absorbed at other companies, the better. It's just so surprising to see something like this. Fortunately, although Apple may lay off some people at some point, the balance sheet is pretty healthy!
2 comments:
The surprising comment that I saw in the article is how Ballmer is predicting that this dip in sales is a rather permanent dip. At least for a few years. In this bad economy, no one is safe. All of the states are saying they don't have enough revenue to pay for everything. Companies keep announcing more layoffs. It is a scary time when house values have dropped so much that almost 40-50% of homeowners owe more than their house is worth. Plus everyone's investments all tanked.
At least Apple showed higher profits than expected in the 4th quarter. Pretty amazing. Imagine what it would have been like if the economy was good. Financial analysts like to pick on Apple for stockpiling cash over the years, saying it should be invested more into the company future. But that big nest egg right now might allow Apple to gobble up some cash strapped companies at rock bottom prices. Maybe a cell phone manufacturer?
Stitch, I could not agree more. I love the fact that Apple plays on a different field from everyone else. Some even criticized Apple for accumulating that much cash. Now how many companies wished they had the kind of stash that Apple has?
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