Home Internet Microsoft to close their retail stores and take $450 million pre tax

Microsoft to close their retail stores and take $450 million pre tax

Microsoft, on Friday, announced that they are shutting down all their retail stores and will take a pre-tax asset impairment of $450 million in the present quarter.

The employees from the retail stores will be given the opportunity to work with the company and remain their employees but in different positions and roles. As for the online services, the reuters will be working remotely from corporate facilities.

Microsoft is headquartered in Redmund, Washington and their business involve manufacturing, selling and licensing software and consumer electronics. With their large customer base, it might cause confusion regarding their service availability. But the company assures that they will continue serving the customers online.

David Porter, the Microsoft Corporate Vice President said about the employees that “ Speaking over 120 languages, their diversity reflects the many communities we serve. Our commitment to growing and developing careers from this talent pool is stronger than ever. ”
he also added that the company will rethink other operating spaces that serve all customers including operation of Microsoft experience centers in London, New York Redmund Campus location and Sydney.

This is an important decision by CEO Nadella and Co as a part of their strategic planning. It was observed that the physical stores did not generate much revenue and since the last few years, and everything was moving towards the digital platforms.

The retail stores were locked from mid-March due to the pandemic and when the business went down, there was still demand from the online channels due to people staying home and working.

READ  Xiaomi launches Mi TV LUX 65-Inch OLED with 120Hz refresh rate and HDR10+
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Saranya
Saranya
Engineer - Masters graduate in Biotechnology and Biochemical engineering Graduated from Birla Institute Of Technology and Science (BITS-Pilani)

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