Microsoft Cuts Benefits to Save Money


OSNN Newbie
13 Apr 2004
05/20/2004 5:45 pm
The Associated Press (SEATTLE)

Even with $60 billion cash in the bank, Microsoft Corp. is telling employees they're not immune to corporate cost-cutting.

Microsoft told employees in an e-mail this week that it is trimming some benefits _ including reduced prescription drug coverage and employee stock discounts _ to save money.

The software giant will continue to offer perks such as free sodas and gym memberships, and the company says its benefits are still generous.

But they won't be as lavish as in years past. John Connors, Microsoft's chief financial officer, recently told employees the company hopes to save as much as $1 billion in its next fiscal year, which ends June 30, 2005. In addition to trimming benefits, Microsoft plans to combine some operations, make business units more efficient, and reduce spending on such things as travel, computers, catering and entertainment.
For the whole article:

Personally, I'd bet the cuts are more a result/related to the costly fines and legal fees associated with Gates not following the law when trading... then again, what do I know. I'm not the one with $60 billion in the bank :)
Nothing wrong with cost cutting. It'll benefit the investors more, and create more funds available for other projects. Maybe even employ more staff which they should in order to get Longhorn out the door. :p

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Also Hi EP and people. I found this place again while looking through a oooollllllldddd backup. I have filled over 10TB and was looking at my collection of antiques. Any bids on the 500Mhz Win 95 fix?
Any of the SP crew still out there?
Xie wrote on Electronic Punk's profile.
Impressed you have kept this alive this long EP! So many sites have come and gone. :(

Just did some crude math and I apparently joined almost 18yrs ago, how is that possible???
hello peeps... is been some time since i last came here.
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Rest in peace my friend, been trying to find you and finally did in the worst way imaginable.

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