SEATTLE (AP) — Microsoft Corp. said Thursday its quarterly revenue fell from the previous year for the first time in its 23-year history as a public company, while its profit dived 32 percent. The shortfall illustrated the toll the recession has taken on the world’s largest software maker, even though Microsoft remains one of the richest and most profitable companies. In January, Microsoft said it needed to resort to its first mass layoffs, cutting 5,000 jobs, and on Thursday it announced it would do away with merit pay increases for employees in the next fiscal year.- – – -Contact The Daily Reveille’s news staff at [email protected]
Microsoft sales drop amid current recession
April 22, 2009