MicroStrategy To Lay Off Workers, Restructure - InformationWeek

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MicroStrategy To Lay Off Workers, Restructure

Investors were apparently unimpressed by MicroStrategy's restructuring plan, which includes laying off 10% of its workforce. By late-day trading, MicroStrategy stock (stock: MSTR) was virtually unchanged, up only 0.9% from the opening price of $27.25.

MicroStrategy stock hit highs of $333 per share late last year, but its stock price plunged more than 62% in March after the data-warehousing software maker said it would restate earnings from the last three years and that the Securities and Exchange Commission was checking into its accounting practices.

One analyst believes the future still looks bright. "You have to divorce the value of the stock from the value of the product," says Mike Schiff of Current Analysis. MicroStrategy will survive in the long term, he says, because it has a good product and solid technology.

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