Microsoft cuts more jobs in struggling mobile unit
Microsoft CEO Satya Nadella, pictured here giving a keynote speech at this year’s Microsoft Build Conference, has focused on software and Internet services while retreating from the smartphone market.
Microsoft will cut up to 1,850 jobs and book an approximately $950-million writedown as it attempts to salvage its rocky entrance into the smartphone market.
The company acquired Nokia’s phone business in 2014 for $7.3 billion, seeking to capitalize on the fast-growing industry. But by summer 2015 it had slashed the value of that business severely and eliminated 26,000 jobs.
See more of our top stories on Facebook >>
Microsoft, under former CEO Steve Ballmer, attempted to leverage its software knowhow to take on increasingly powerful tech rivals, but the company has beat a quick retreat under new CEO Satya Nadella, with the venture taking on water.
Nadella has redirected Microsoft to better focus on software and Internet services.
The bulk of the job cuts announced Wednesday, up to 1,350 positions — are at Microsoft Mobile Oy in Finland. There will also be up to 500 additional jobs trimmed worldwide. Microsoft had 117,354 employees globally at the end of its last fiscal year.
Microsoft Corp., based in Redmond, Wash., hopes to complete most of the “streamlining” by year’s end.
MORE FROM BUSINESS
Ford recalls 271,000 F-150 pickups to fix brake fluid leak
Amazon will open 2 new California warehouses, in Eastvale and Tracy
First lower-priced Whole Foods opens Wednesday in Silver Lake. Here’s what you need to know
