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Microsoft announced today that they are shedding 5,000 jobs in an attempt to cut costs. The layoffs should save Microsoft about $1.5 billion a year. Interestingly, Microsoft actually made a larger profit last quarter by 2% over the same fiscal quarter a year ago. Nevertheless, CEO Steve Ballmer and execs felt the cuts were necessary for financial liquidity going forward. On the upside, the job cuts won’t affect Microsoft’s game division (Entertainment and Devices), which had a very strong year, growing 3% over last. |