Microsoft Announces Plans to Cut 5,000 Jobs

Microsoft Corp, (NASDAQ: MSFT) has announced plans to cut 5,000 jobs over the next year and a half in response to declining sales.

The software giant will cut 1,400 jobs immediately with the remaining 3,600 jobs spaced over the next 18 months.

Microsoft’s profits of $4.17 billion over the final three months of 2008 were less than what analysts had predicted and the company has refrained from issuing a profit and revenue outlook for the new year due to market conditions.

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