Microsoft to cut 5,000 jobs by June 2010

It may not be quite as sweeping as the rumored 15,000 job losses, but Microsoft did reveal today that the company would cut 1,400 positions immediately, with that number increasing to 5,000 by June of 2010. The cuts, expected to save the company $1.5 billion in operating expenses, account for 5.5 percent of its workforce. If you're the sort that likes to see terrible economic events transpire, here's the email chief Steve Ballmer sent to employees today.

There's no word yet on where, specifically, the cuts would come from, but with Microsoft reporting the Xbox division's three percent growth over the previous year, we're hopeful that the games house will make it through unscathed.

This article was originally published on Joystiq.