US computer software company Microsoft has announced that due to the country's economic situation it will be laying off 5,000 workers. The move announcement came after Microsoft's stocks fell by 10 per cent pulling the Nasdeq index down by 3 per cent. Microsoft's second-quarter profit dropped by 11 per cent.
Currently Microsoft employs more or less 95,000 employees worldwide. The upcoming cut of 5,000 jobs comprises roughly 5% of the company's workforce. Though the laying off of workers is not immediate except for the 1,400, the company will still give up the rest within the next 18 months.
This is the first time that Microsoft will lay off employees.
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