Sections
Best Places to Work graphic

Making the games industry a better place to work

Find out more
Best Places to Work graphic

Microsoft - tough trading for "next year or two"

CFO warns that the software industry faces "a contraction of some substance"

Microsoft's CFO, Christopher Liddell, has warned delegates at the Goldman Sachs Technology and Internet conference that the software industry should expect tough economic conditions for some time to come.

"A contraction of some substance is the way that we are thinking about it," he said. "How long the contraction's going to be and how deep none of us know - despite what politicians and others are saying, it's probably for the next year or two that we're going to see a difficult trading environment."

Liddell echoed brief comments made earlier in the week by CEO Steve Ballmer, as the Windows company's share hit an 11-year low.

As part of cost-cutting measure the firm is axing around 5000 staff, and according to Forbes it has also lowered the rates that it pays agencies supplying it with temporary staff.

The Microsoft share price currently stands at USD 16.42, down 3.2 per cent over the day yesterday.

Best Places to Work graphic

Making the games industry a better place to work

Find out more
Best Places to Work graphic

More stories

Microsoft joins USC Games' Gerald A. Lawson Endowment Fund

Publisher contributes to foundation that supports Black and Indigenous students in games and tech studies

By Jeffrey Rousseau

Forza Motorsport 7 to be removed from sale due to "end of life status"

Turn 10 Studios' racing game will retire after only four years on shelves

By Marie Dealessandri

Latest comments

Sign in to contribute

Need an account? Register now.