Microsoft today announced that it is to cut 5,000 jobs around the world  over the next 18 months. The announcement comes after Microsoft reveal an 11% drop in profits. 58 Jobs will be cut in the UK immediately, which equates to 2% of the 2,900 staff employed in Britain, no assurances were given that further job cuts in the UK wouldn’t follow in the coming months.

Richard Williams, analyst at Cross Research, said: "This is a substantial amount of jobs cuts. Microsoft has never had a layoff like this in my knowledge and it’s sending a signal that the times are definitely changing."

Microsoft Job Cuts Press Release