Microsoft resorts to first layoffs, cutting 5,000
Microsoft Corp. will make the first mass layoffs in its 34-year
history, cutting 5,000 jobs as demand for personal computers falls and
even one of the world's richest companies gets burned by the recession.
The
company announced the cuts Thursday as it reported an 11 percent drop
in second-quarter profit, which fell short of Wall Street's
expectations. Microsoft shares fell more than 11 percent. (AP)