Microsoft to axe 7,800 jobs and take $7.6bn writedown on Nokia deal

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The world’s largest software group is slimming down its hardware arm, with most of the jobs disappearing from the smartphone business it bought from Nokia for $7.2 billion (£4.7 billion) in 2014.

Microsoft also revealed it will take a $7.6 billion write-down on the Nokia deal as well as a restructuring charge of $750-$850 million.

In recent weeks, former Nokia boss Stephen Elop has left Microsoft, along with the company’s head of phones Jo Harlow.

Last year, Microsoft embarked on one of the biggest layoffs in tech history as it began cutting 18,000 jobs – around 14% of its staff.

The latest round of cuts comes just a few weeks before the launch of Windows 10, which will be the first operating system to run across PCs, tablets and phones.

 

In an email to staff, chief executive Satya Nadella wrote: “We are moving from a strategy to grow a standalone phone business to a strategy to grow and create a vibrant Windows ecosystem including our first-party device family.

“In the near-term, we’ll run a more effective and focused phone portfolio while retaining capability for long-term reinvention in mobility.”

Source Article from http://www.standard.co.uk/business/business-news/microsoft-to-axe-7800-jobs-and-take-76bn-writedown-on-nokia-deal-10375343.html

July 9, 2015 |
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