Saving on employees: Microsoft is cutting business expenses
According to WSJ, the IT-giant will reduce the cost of employees, taking into account the difficult economic situation. Thus, payment for business trips, training and organization of meetings will be paid from employees' own pockets.
Earlier Microsoft has frozen hiring in some departments of the company. It is also planned to lay off 1% of employees. Although the new measures will worsen the working conditions, but will allow the company to spend more money to maintain the business.
Contrary to the report, which was worse than expected, Microsoft stock is up 16% from its June lows. The "soft" way of cutting costs should help consolidate the position.