Microsoft announced 5,000 job cuts Thursday as second quarter profits fell.
Wired PR News.com – Technology giant Microsoft Corp. has announced plans to lay off 5,000 employees as less people demand personal computers during recession. As reported by the Associated Press (AP), the company’s massive job cuts will be the first for Microsoft in 34 years.
Steve Balmer, Microsoft Chief Executive is quoted in the AP report as stating, “We’re certainly in the midst of a once-in-a-lifetime set of economic conditions.” Companies as well as individuals are reportedly spending less on new computers and extending the life of their old ones due to financial strain imposed on them by the current state of the economy. Despite the job cuts, Balmer has stated the company will hire individuals for support with web search and other key areas.
Other well-known technology based companies have had to resort to mass layoffs due to the recession as well. Among the most recognized of these companies are Google Inc., Intel Corp., and Yahoo.