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Microsoft Made Further Cuts Ahead of New Fiscal Year

By John F. Heerdink, Jr.

Reportedly, Microsoft Corp (MSFT) has cut its workforce across a number of teams and locations as it entered its new fiscal year that began on July 1. As per reports, the company has cut roles at its online news portal MSN.com and its Azure cloud division. However, Microsoft declined to comment on the roles or numbers eliminated. Similarly, in 2017 the company trimmed thousands of jobs around the same time as it went through a reorganization impacting sales and marketing teams.

Last month, Microsoft said it would close its retail stores and take a related pre-tax asset impairment charge of $450 million. The company’s reported a revenue increase of 15% to $35.02 billion in the third quarter while net income increased to $10.75 billion, or $1.40 per share.

Redmond, Washington-based American multinational technology company Microsoft (MSFT) develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services. To learn more about Microsoft (MSFT) and to track their progress please visit the Vista Partners Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website:www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Microsoft trims jobs as it enters new fiscal year in Reuters)


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