Software giant Microsoft is one of the world's largest software firms. It develops, manufactures, licenses, a wide range of software products for computing devices.
Headquartered in Redmond, Washington, Microsoft's best selling products are the Windows operating system and the Microsoft Office suite of productivity software.
Founded by Bill Gates and Paul Allen in 1975, the company is now facing trouble. Microsoft's quarterly revenue stands at $16.63 billion for the second quarter ended December 31, 2008, a 2 per cent increase during the same period of the previous year.
Microsoft has already issued pink slips to 1,400 workers and is on major cost cutting drive. It has cut the temporary staff's salaries by 10 per cent. With the recession taking a toll on its business, the company plans to lay off 5000 more people over the next 18 months.
Image: Microsoft founder Bill Gates arrives at the EU Commission headquarters in Brussels. | Photograph: Francois Lenoir/Reuters
Also read: Bill Gates: The rich must help the poor
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