Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

MICROSOFT : says swings jobs axe without visa bias

share with twitter share with LinkedIn share with facebook
03/03/2009 | 07:01pm EDT

WASHINGTON (Reuters) - Microsoft Corp will favor neither American nor foreign workers as it cuts thousands of jobs, the company said on Tuesday in response to a senator's call that the jobs of U.S. employees be preserved.

By Kim Dixon

Microsoft said in January that it would eliminate up to 5,000 jobs, or about 5 percent of its workforce, surprising investors as it released quarterly results that missed Wall Street expectations.

The news also caught the eye of Republican Sen. Charles Grassley, who fired off a letter asking that Microsoft detail the cuts, while urging the world's biggest software company to preserve the jobs of Americans ahead of foreigners with visas.

Microsoft said it was too early to be precise, but the percentage of workers at the company who hold so-called H-1B visas would remain roughly the same.

"We do not expect to see a significant change in the proportion of H-1B employees in our workforce following the job reductions," General Counsel Bradford Smith said in a letter to Grassley.

The Senator said the response left him wanting more details. "I'm still left without much information about how Microsoft is ensuring American workers are being protected or specifics of its H-1B visa hiring practices," Grassley said in a statement.

H-1B employees have always amounted to less than 15 percent of Microsoft's U.S. workforce, Smith said in the letter dated March 3.

"The potential to tap into the world's best minds has long been essential to our success," he wrote.

Microsoft has been a champion of expanding the H-1B temporary visa program, which lets American companies and universities hire foreign workers in a category the government considers "specialty occupations."

The company also said that, including positions to be created, the net impact would be 2,000 to 3,000 fewer jobs.

Grassley, who is the ranking Republican member of the Senate Finance Committee, had asked Microsoft Chief Executive Steve Ballmer to provide a breakdown of the jobs to be eliminated, how many of those are staffed with individuals with H-1B visas and how many with Americans.

(Reporting by Kim Dixon; editing by Lisa Von Ahn and Tim Dobbyn)


Stocks mentioned in the article
ChangeLast1st jan.
BEST INC. -5.26% 2.88 Delayed Quote.-48.20%
MICROSOFT CORPORATION 0.62% 216.23 Delayed Quote.37.11%
share with twitter share with LinkedIn share with facebook
All news about MICROSOFT CORPORATION
10/25Apple's Booming Services Business Could Be Hit in Google Antitrust Battle
DJ
10/25Samsung Heir Takes Reins of Tech Giant Stuck in His Father's Past -- Update
DJ
10/25Samsung Heir Takes Reins of Tech Giant Stuck in His Father's Past
DJ
10/25Wall St Week Ahead-More U.S. companies offer earnings guidance despite pandem..
RE
10/23WALL STREET WEEK AHEAD : More U.S. companies offer earnings guidance despite pan..
RE
10/23NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/23NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/23NEWS HIGHLIGHTS : Top Company News of the Day
DJ
10/23HONEYWELL INTERNATIONAL : Teams Up With Microsoft To Reshape The Industrial Work..
AQ
10/23MICROSOFT : National Guard called in to thwart cyberattack in Louisiana weeks be..
RE
More news
Financials (USD)
Sales 2021 157 B - -
Net income 2021 49 091 M - -
Net cash 2021 82 379 M - -
P/E ratio 2021 33,6x
Yield 2021 1,01%
Capitalization 1 635 B 1 635 B -
EV / Sales 2021 9,90x
EV / Sales 2022 8,84x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
Duration : Period :
Microsoft Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 36
Average target price 236,17 $
Last Close Price 216,23 $
Spread / Highest target 28,6%
Spread / Average Target 9,22%
Spread / Lowest Target -16,8%
EPS Revisions
Managers
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
MICROSOFT CORPORATION37.11%1 635 310
ZOOM VIDEO COMMUNICATIONS, INC.651.79%145 487
SEA LIMITED305.17%79 482
ATLASSIAN CORPORATION PLC73.25%51 956
DASSAULT SYSTÈMES SE1.09%45 717
SPLUNK INC.44.56%34 727