NEWS - Wednesday, February 25, 2009
Microsoft Shares Drop to 11-Year Low
Ballmer spoke of how Microsoft can benefit from the rise of cheap netbooks, but made little suggestion that the company is going to cut more costs to save money.
In fact, Ballmer openly rejected the idea, stating that "I don’t think it makes sense for us to come back and say, ’Could we take out another $2 billion in costs?’”
Microsoft confirmed back in January that it was going to cut 5,000 jobs over 18 months in a bid to save itself over $2 billion, but many analysts feel the cuts are too slender, and expected Ballmer to announce more cost saving measures.
Following the investors’ meeting, Microsoft shares fell over 3 percent, down to $16.36. The shares are currently at $17.14 at the time of going to press.
Source: http://www.edge-online.com/
