There’s some concern in Fargo today, after Microsoft announced it will slash 5,000 jobs over the next 18 months. The software giant reported an 11 percent drop in second-quarter profit.

The company's Fargo campus is the Fargo-Moorhead area's largest employer among primary-sector businesses, which sell goods and services nationally and internationally. Microsoft has more than 1,000 employees and 500 vendor personnel in the Fargo-Moorhead area.

It is not clear whether any of the job cuts will occur in Fargo. In November, company officials said it would move “full-speed ahead” with an expansion project there. At the time, the Fargo campus had 13 job openings.

The Redmond, Wash.-based company says profit slipped to $4.17 billion, or 47 cents per share, from year-ago earnings of $4.71 billion, or 50 cents per share. Total revenue edged up 2 percent to $16.63 billion, as server, tools and entertainment sales helped offset an 8 percent drop in client revenue.

The results missed Wall Street's forecast for earnings of 49 cents per share on sales of $17.08 billion. Microsoft says the job cuts will reduce operating costs by $1.5 billion as it prepares for lower revenue and earnings in the second half of the year.

The company says it is unable to offer profit and revenue guidance for the rest of the year, because of market volatility.