Microsoft to cut 18,000 jobs

Jul 17, 2014, 7:44 AM EDT
Microsoft Corp is planning its biggest round of job cuts in five years as the software maker looks to integrate Nokia Oyj's handset unit, Bloomberg reported, citing people with knowledge of the company's plans.
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Microsoft Corp will slash up to 18,000 jobs, or 14% of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company.The larger-than-expected cuts, announced on Thursday, are the deepest in the company's 39-year history and come five months into the tenure of Chief Executive Officer Satya Nadella. He outlined plans for a "leaner" business in a public memo to employees last week.
Microsoft to cut 18,000 jobs this year as it chops Nokia [Reuters]