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EMC, Microsoft team for share of shrinking IT budgets

Time: 13:22 EST/18:22 GMT | News Source: CNET | Posted By: Kenneth van Surksum

While tech spending has not evaporated, Microsoft CEO Steve Ballmer said on Tuesday that most companies have mandated that their IT departments cut a significant percentage from their budgets.

"To save 5 (percent) to 10 percent, you have to save a little bit on a lot of things," Ballmer told CNET News on Tuesday, in a joint interview with EMC CEO Joe Tucci, "It's not like there's nothing new getting done. Some new projects are getting killed. There's pressure on vendors to reduce prices."

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