The Redmond, Wash.-based software giant said Thursday it’s eliminating 5,000 jobs over the next 18 months. About 1,400 people got the axe already today.
Microsoft blamed the cuts on worse-than-projected fiscal second-quarter earnings – the company expects the numbers to fall by 11 percent. Microsoft is selling fewer computers and operating systems than it had forecast.
These layoffs are Microsoft’s farthest-reaching ever. They cover the research, finance, technology and sales divisions.
Microsoft’s stocks had fallen more than 10 percent by early afternoon trading on Thursday.