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Microsoft to add 5,000 new workers

Time: 12:51 EST/17:51 GMT | News Source: News.com | Posted By: Byron Hinson

Microsoft plans to increase its research and development budget by 20 percent and hire 5,000 new workers in the coming year, Chairman Bill Gates said on Thursday. Gates, speaking at Microsoft's annual meeting with financial analysts at its Redmond, Wash., headquarters, said the company's R&D budget will grow from $4.3 billion last year to $5.2 billion in fiscal 2003, despite the stagnant economy. "Because of our optimism (over) what the software can do in the decade ahead, we are increasing our investments," Gates said. Microsoft's employee base is "50,000 strong and growing," he said.

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