Microsoft Corp. will cut 5,000 people in the next 18 months after posting a profit drop of more than 11 percent in the second quarter.
Microsoft (NASDAQ: MSFT) said the economy and technology spending has "slowed beyond expectation," as the company reported a profit of $4.17 billion, or 47 cents a share, on revenue growth of a little more than 1 percent to $16.6 billion.
Read full article: http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/01/19/daily47.html?ana=e_du_pub
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