Microsoft Cutting 18,000 Jobs, Signals New Path
Microsoft announced the biggest layoffs in its history Thursday, saying it will cut 18,000 jobs or 14 percent of its workforce as it streamlines its Nokia mobile device business to focus on using the Windows Phone operating system. The news sent Microsoft’s stock up nearly 2 percent in morning trading. Although the job cuts had been expected, the extent of them was a surprise. It’s the boldest move by CEO Satya Nadella since he took the reins from Steve Ballmer in February.
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