Microsoft Freezes Spending, Hiring

Microsoft employees received a note on Friday explaining that the company will soon go through a review process. Some employees said the note also indicated a hiring and spending freeze.

Microsoft Corp might be going through a hiring freeze. Microsoft News Web site, NewsOXY, reports that employees received a note informing them of a hiring and spending freeze.

The article states that even analysts predict that companies in the information technology sector will probably suspend hiring because of the recent credit and financial crises. Here's a quote from the article:

"Financial analysts this week downgraded the stock and earnings expectations for several information technology vendors. Some of them include Apple, Intel and AT&T.

There are confusing reports on whether the software giant instituted a hiring freeze, but apparently there is something going on.

The recent financial and credit crises are now impacting the information technology sector. Several business technology stocks were downgraded this week. Some of them include Apple, Intel and AT&T.

Some financial analysts say that the financial crisis is causing a credit crunch that will likely slow IT spending by both consumers and business technology companies."