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Microsoft CFO reduces costs

Time: 09:38 EST/14:38 GMT | News Source: E-Mail | Posted By: Brian Kvalheim

Microsoft Corp. Chief Financial Officer John Connors is scaling back employee business trips as part of a 13-point plan to slice costs. "We've just got to hunker down," Connors said in a March interview at his office in Redmond, Wash. Connors said he's telling workers to eliminate one in five trips, forcing them to cancel meetings or hold teleconferences. Chief Executive Officer Steve Ballmer, 48, and Connors, 45, have stepped up efforts to reduce expenses so Microsoft can boost profit as sales growth slows. Sales grew 17 percent to $9.18 billion in the third quarter ended March 31, and profit declined because of legal costs, the company said Wednesday in a statement distributed by PR Newswire. Revenue beat the $8.66 billion average estimate of 28 investors polled by Thomson Financial.

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