Microsoft axes 5,000 jobs as recession hits software giant
[I found this interesting article in telegraph.co.uk. Read this and post comments if you like: Source: http://www.telegraph.co.uk/scienceandtechnology/technology/microsoft/4315662/Microsoft-axes-5000-jobs-as-recession-hits-software-giant.html] The software giant said it planned to make the job cuts over the next 18 months – although around 1,400 are expected to be informed of their departure on Thursday. It is understood around 60 of the cuts will be in the UK. Microsoft blamed the “deterioration of global economic conditions” for cuts, which left shares in Microsoft down by 6.4pc in early trading in New York. “Economic activity and IT spend slowed beyond our expectations in the quarter, and we acted quickly to reduce our cost structure and mitigate its impact,” said chief financial officer Chris Liddell, adding that the company expects the difficult trading environment to persist until at least the end of June. The company had been due to announce its r