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Microsoft to cut up to 5,000 jobs

2009-01-23 06:12:56

Microsoft has said it will cut up to 5,000 jobs over the next 18 months,

including 1,400 immediately.

The firm also reported a net profit of $4.17bn ( 3bn) for the three months to

31 December, down 11% on last year and less than analysts' expectations.

Microsoft added it was "no longer able" to give a profit and revenue outlook

for the fiscal year amid current volatile market conditions.

Shares in Microsoft fell 7.9%, dragging Wall Street lower.

Cost cuts

"While we're not immune to the effects of the economy, I am confident in the

strength of our product portfolio and soundness of our approach," said

Microsoft chief executive Steve Ballmer.

Richard Williams, an analyst at Cross Research, said: "Microsoft has never had

a layoff like this in my knowledge, and it's sending a signal that the times

are definitely changing."

Microsoft said the announced job cuts would take place in research and

development, marketing, sales, finance, legal, human resources and information

technology.

It added it would also be making other cost-cutting measures, including a

reduction in spending on travel.

"These initiatives will reduce the company's annual operating expense run rate

by approximately $1.5bn and reduce fiscal year 2009 capital expenditures by

$700m," Microsoft said.