Microsoft to cut 7,800 jobs, write down Nokia phone business

Thursday, 9 July 2015 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Microsoft Corp said on Wednesday it would cut 7,800 jobs and write down about $7.6 billion related to its Nokia handset business, which it acquired in 2013.

Most of the job cuts will be in the phone hardware business, underscoring the company’s shift from hardware to its core software business.

Microsoft was widely expected to write off all or part of the $7.2 billion it paid for Nokia’s handset unit, a deal that left the company with a money-losing business and only 3% of the smartphone market.

The latest round of job cuts is on top of the 18,000 job cuts the company announced last year.

Microsoft, which had more than 118,000 employees worldwide as of 31 March, said it would take a restructuring charge of about $750-$850 million.

The company said it would record the charge in the fourth quarter.

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