Cost Cutting - yes , no layoff at Microsoft

Rumors of a broad workforce reduction at the world's largest software maker have been swirling since a blog post last week purported to show that Microsoft was preparing to lay off as many as 15,000 employees, or 17 percent of its workforce. A Microsoft source tells Goldman that the speculation is "grossly exaggerated," but added that "any company not paying careful attention to headcount in a climate like this is nuts." Calls and emails to Microsoft Saturday morning were not immediately returned.

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