Microsoft announced its first broad layoffs in the history of the company. A total of 5,000 jobs will be eliminated from the company during the next 18 months. According to International Herald Tribune, Microsoft is not the only technology company facing hard times. Sony is facing job cuts in light of a record annual operating loss. And Nokia is another large technology company to announce job cuts.
With the continued decline in the stock markets all over the world, it make one wonder how long this recession will last and how many jobs will be lost, perhaps forever.