Microsoft announces that it will cut 5000 jobs in which 1,400 have to leave the Software giant immediately. The rest will be drowned within next 18 months.

The move was under consideration for quite some time, but now its confirmation has been made by Software giant’s Chief Financial Officer Chris Liddell who announced that news.

“The current slowdown in economic activities is somewhat worse-than-expected in that quarter, and we had to act quickly to decrease the structure of cost and reduce its impact,” Liddell said.

“Microsoft is planning things for the economic uncertainties that may continue throughout the year and that can lead to lower earnings and revenue in the coming times,” Liddell added.

The news emerges after Microsoft announcement of 11% drop in profits for the 2nd Q net income, as the company made $4.17b in that.

Microsoft also has a considerable presence in UK, however, it has not been announced yet in which part of the world these jobs to be cut.

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