Microsoft to slash up to 5,000 jobs
Friday, 23 January 2009, 15:10 IST   |    6 Comments
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New York: Software giant Microsoft announced Thursday plans to slash up to 5,000 jobs as the company faces the effects of the world economic crisis. It would be the first job reductions ever in the company's history. The Seattle, Washington-based firm, in making the announcement, also said that its profits in the second quarter of its current 2008-2009 business year fell by 11 percent, to $4.17 billion. The earnings in the quarter ending Dec 31 came on sales revenues of $16.63 billion, down 2 percent, Microsoft said. In the job reductions, some 1,400 will be immediately carried out, with the remaining to take place over the next 18 months, Microsoft said, while other cost reduction efforts across a broad spectrum would also be implemented. Microsoft said that in view of the uncertain world economic climate, it could not provide any detailed earnings projections, but that the second half of the current business year was virtually certain to show lower profits and sales.
Source: IANS
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