Microsoft braces for revenue hit
CEO Steve Ballmer says the company expects revenues to be impacted by global economic downturn
Microsoft's chief executive, Steve Ballmer, has warned that the software giant's revenues will be impacted by the economic downturn.
"Revenues in our industry, and in our company, will be affected by the economic conditions," Ballmer told Reuters at the Mobile World Congress in Barcelona.
Last month, Microsoft announced plans to cut 5000 jobs in an attempt to reduce costs. This led to job cuts and the eventual closure of its Flight Simulator studio.
However, the company's EMEA VP for Interactive Entertainment Business, Chris Lewis, told GamesIndustry.biz that despite the tough economic conditions, Microsoft would not sacrifice its "focus on exciting IP".