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For the first time in 23 years, Microsoft tasted the bitter upshot of recession, taking a sales drop of 6 percent from that of 2008. The company reported a decline in profits by 32 percent, amounting to $2.98bn. Sales took the biggest dip at $13.65bn.
Many have viewed Microsoft as recession-proof, but apparently, even the biggest companies could not escape the ill effects of a bad economy.
Microsoft’s CEO Steve Ballmer said the fall was brought by no less than the worldwide financial slump. Microsoft’s chief financial officer also said the firm sees declining sales over the next quarter.
The software giant plans to sack 5,000 jobs over the next 18 months. Analysts expected little of a Microsoft profit drop. Sadly, this did not turn up proving that even the mighty could fall when the battle is as big as a worldwide economic disaster.
