Microsoft Corp. said Thursday morning it would lay off up to 5,000 employees, or 5 percent of its work force, over the next 18 months, including 1,400 jobs today, marking the first time in its history that it has laid off workers across the company.
The announcement came as Microsoft posted quarterly results far short of analysts’ and its own expectations.
The company said that jobs would be eliminated in research and development, marketing, sales, finance, legal, human resources, and IT. At the same time, the company said it would continue to hire in other areas, including its search business, so its work force would actually fall by between 2,000 and 3,000.
And Intel ouch.
Intel will close an aging computer chip factory in Hillsboro late this year, eliminating 1,000 positions as it ratchets back production in response to a spectacular decline in sales.
The 12-year-old facility, known as Fab 20, is one of five sites worldwide that Intel will shutter in 2009. As many as 6,000 workers will lose their jobs globally, about 7 percent of Intel’s total work force.
People have less money, they buy less stuff, then people lose jobs, meaning they have less money and buy less stuff…