Proving even software giants are not immune to the effects of this troubled economy, Microsoft has announced today 5,000 job cuts – 1400 expected today.
The Redmond, WA-based company released a press release just after 6am this morning warning of lower profits sending shares in pre-market trading down 7 percent. They’ve also advised investors not to expect “quantitative revenue and EPS guidance for the balance of this fiscal year”, due to market volatility. (Microsoft’s fiscal year ends in June annually.)
The most troubling news for those heading to work at various campus locations worldwide today:
Microsoft will eliminate up to 5,000 jobs in R&D, marketing, sales, finance, legal, HR, and IT over the next 18 months, including 1,400 jobs today.”
Previously this week, Intel Corp. announced cutbacks in its Hillsboro, OR workforce, among other locations.
For more on this story, listen to my report (MP3), as heard on Newsradio 750 KXL during Portland's Morning News 22 Jan 2009.
Updated - Airchecks from today's Microsoft layoffs story:
KXL-AM: Tech Expert 6:40am Live - Microsoft Layoffs & Whitehouse.gov transition
The Lars Larson Show (regional) - Microsoft Layoffs, Intel Impact analysis and local impact
KOMO-AM: Microsoft Layoffs - What Microsoft and Intel layoffs have in common