it's worse than that

Microsoft has only *announced* 5k layoffs. They've been shedding contractors for six months now. Several thousand of 'em. There have also been "positions" cut. In this case the employee has so many days to find other work, or leave "voluntarily". They have to do it this way, or fire all their engineers on H1 visas.

So, it's not the 17000 cuts of the last months' rumors, but it's a pretty big deal here in Seattle. Job hunting will be especially exciting hereabouts with the city awash in unemployed Microsofties.