Microsoft to Add Up to 5,000 Jobs

World's largest software company looks to add 3,000 to 3,500 jobs in the U.S., boost spending.

July 24, 2003

LOS ANGELES (Reuters) - No. 1 software company Microsoft Corp. said Thursday it plans to add 4,000 to 5,000 jobs worldwide and increase its research and development spending by as much as 8 percent in the current fiscal year.

In a statement ahead of a meeting with financial analysts, Microsoft said it will spend as much as $6.9 billion on R&D, including equity compensation expenses.

It also said between 3,000 and 3,500 of the new jobs will be in the United States. The company already has more than 50,000 employees worldwide.

Last week, Microsoft raised its revenue forecast for fiscal 2004 by about $1 billion despite a cautious outlook for technology spending. The company also said it had no plans to spend any of its $49 billion cash pile on major acquisitions or an increase in its dividend.

Shares in Microsoft (up $0.30 to $26.75) were up about 1 percent in midday trade.

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