Microsoft: 5,000 Jobs Go Out Of The Windows

It seems that even the mighty Microsoft isn't immune from the global meltdown afflicting the IT industry.

Announcing quarterly results that fell short of analysts estimations, the company said that it would cut up to 5,000 jobs in the next eighteen months, with 1,400 of them effective immediately. Not a happy vista for those.

"Economic activity slowed beyond our expectations in the quarter, and we acted quickly to reduce our cost structure and mitigate its impact," the company said in a statement. "We are planning for economic uncertainty to continue through the remainder of the fiscal year, almost certainly leading to lower revenue and earnings for the second half relative to the previous year."

Microsoft is the latest in a line of IT and electronics giants to see profits fall & announce job losses. Intel, Sony, Ericsson, LG, Motorola, Nokia and Dell have all slashed jobs and/or reported sharply lower sales and earnings in the last few weeks.

You can't eat a mobile phone can you.