Software giant Microsoft announced Thursday it will cut 5,000 jobs over the next year and a half. Microsoft will eliminate 1,400 positions immediately, with the rest cut by June 2010. The company said it will save $1.5 billion in operating expenses and another $700 million in capital expenses.
Microsoft also posted lower fiscal second-quarter net income of $4.17 billion, down 11% from last year. The company reported earnings of 47 cents per share, missing analyst estimates of 49 cents.
Microsoft said the job cuts and soft income is the result of “deterioration of global economic conditions.”
Article published on January 22, 2009
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