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by James Avery.
Original Post: Microsoft cutting costs
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This article talks about how Microsoft will be trying to cut costs, and while I can understand a company wanting to streamline and be more efficient, I was surprised to see employee benefits on the list as being one of the things scaled back on.
The article point out that "In his memo, Ballmer wrote that the company still has "the most generous benefits plan in our industry," and he added that the company had considered "more substantial changes" before rejecting them based on employee feedback."
So basically let me sum up what he is saying, our benefits are damn good and we could have taken even more away so be happy with what we are doing.
I think a company has a responsibility to its shareholders, customers, and its employees. There are times when a company must reduce employee benefits, or even layoff employees, in order to stay in business and take care of its remaining employees, shareholders, and customers... clearly this is not one of those times.
It seems ridiculous that Microsoft is reducing benefits when it is #1 in the market, making tons of money, and has huge cash reserves. I mean, we are talking about a company with 26 Billion dollars in gross profit over the last 12 months, and an earnings growth of 27%... but they can't afford to pay for some prescriptions for their employees? Gimme a break.
I always thought Microsoft was the best example of a company that understands that its people are its greatest asset, I hope that this is not changing.
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