Written on 10:05 PM by yahoo
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Company says it can't accurately forecast earnings for next six months
Microsoft Corp. said Thursday that it planned to cut thousands of jobs because of the current recession, in a move that underscores the difficulty even some of the most stable U.S. companies are having in dealing with these hard economic times.
The Redmond, Wash.-based software maker announced the job cuts Thursday as it released lower-than-expected quarterly earnings. In a highly unusual step, the company also said conditions were so uncertain that it could not accurately forecast its earnings and revenue for the coming six months.
Microsoft executives could only say that they didn’t expect conditions to improve soon for the company or for the economy.