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Microsoft to cut 5,000 jobs


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Microsoft has announced it will cut 5,000 jobs across numerous divisions, including R&D, marketing, human resources and its legal department. The company claims it will make the cuts over the next 18 months, but according to CNN, 1,400 workers will get their marching orders today.

The company posted a net income of $4.17 billion, and a revenue of $16.6 billion. CEO Steve Ballmer said in a statement that the company is "not immune to to the effects of the economy," but reiterated his confidence in the strength of Microsoft's product portfolio.

Microsoft was expected to make the announcement tomorrow, but chose to surprise Wall Street with some rather bad news today.


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