Microsoft Cuts 5,000 Jobs

  • January 22, 2009
Microsoft Corp. will cut as many as 5,000 jobs--about 5% of its workforce--across the board, reports Bloomberg News. The company will also cut merit-based pay raises and travel costs and reduce the use of contractors. The Windows division, which accounts for 25% of sales, is down; PC shipments are off. The moves are expected to save $1.5 billion, Microsoft said in a statement.

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