Microsoft To Layoff Employees

   It seems that all of those rumors on the Internet about Microsoft laying off 15,000 workers is no longer a rumor. Though it is not official yet, analyst expect the company to layoff as many as 8,000 workers in its first round of cost-cutting measures.

       Microsoft Microsoft has declined to comment on any likelihood of job cuts. Its shares have dropped 41 percent over the past year, while shares in another technology bellwether, IBM, have lost 16 percent. The S&P 500 Index has dropped 38 percent during the same period.

"Checks indicate that Microsoft is likely to engage in headcount reductions to the tune of 6,000 to 8,000 employees or 6 percent to 8 percent of its 95,000 workforce," said McAdams Wright Ragen analyst Sid Parakh. "Our checks also revealed some speculation over the potential for a second round of cuts in some groups sometime later in the year."

   This would reportedly be Microsoft's first ever layoff of workers.

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Clear Channel Letting 1,850 Go

   I guess that the company released this yesterday  hoping that on an Inauguration news day no one would notice. 1,850 jobs are gone.That is 9% of their workforce.

     CEO Mark Mays sent a memo to employees telling them that they are history. Most of the job cuts are expected to come from Clear Channel's ad-sales department but the cuts span all departments in its corporate, radio and outdoor advertising divisions.           Source

Technorati Tags: Clear Channel,Layoffs,Economy,Workers