Microsoft may cut up to 5000 jobs, Seagate to cut 2950 jobs, Intel to close five plants

Microsoft may cut up to 5000 jobs, Seagate to cut 2950 jobs, Intel to close five plants

Microsoft Corp. on Thursday reported an 11% drop in fiscal second-quarter profit and said it may cut up to 5,000 jobs as demand weakened for its Windows software. The Redmond, Wash.-based company also said it would cease giving per-share forecasts for the rest of 2009 because of the uncertainty caused by a slumping U.S. and global economy. In the final three months of 2008, meanwhile, Microsoft said earnings fell to $4.17 billion, from $4.71 billion in the year-earlier quarter. Revenue edged up slightly to $16.63 billion from $16.4 billion from a year ago.

Intel Corp., the world’s largest maker of computer processors, said yesterday that it will close five older plants. Seagate Technology, the biggest maker of hard-disk drives, announced plans this month to trim 2,950 positions, or 6 percent of its global workforce.