Microsoft cutting up to 7,800 jobs, taking $7.6B charge on Nokia deal
Jul 8 2015 By: Eric Jhonsa,
Microsoft's (NASDAQ:MSFT) job cuts will primarily hit the company's phone business. A $750M-$850M restructuring charge is expected. ~12,500 of the ~18,000 job cuts announced last year also hit the phone unit.
Satya Nadella, who recently talked of making "tough choices": "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 ... We’ll bring business customers the best management, security and productivity experiences they need; value phone buyers the communications services they want; and Windows fans the flagship devices they’ll love."
With Microsoft having paid $7.17B for Nokia's Devices & Services unit and a related IP licensing deal, the company's write-down exceeds its acquisition price. Last week, Microsoft struck deals to sell mapping imagery assets to Uber, and to offload its display ad ops to AOL.
http://seekingalpha.com/news/261761...7_6b-charge-on-nokia-deal?uprof=45#email_link
Jul 8 2015 By: Eric Jhonsa,
Microsoft's (NASDAQ:MSFT) job cuts will primarily hit the company's phone business. A $750M-$850M restructuring charge is expected. ~12,500 of the ~18,000 job cuts announced last year also hit the phone unit.
Satya Nadella, who recently talked of making "tough choices": "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 ... We’ll bring business customers the best management, security and productivity experiences they need; value phone buyers the communications services they want; and Windows fans the flagship devices they’ll love."
With Microsoft having paid $7.17B for Nokia's Devices & Services unit and a related IP licensing deal, the company's write-down exceeds its acquisition price. Last week, Microsoft struck deals to sell mapping imagery assets to Uber, and to offload its display ad ops to AOL.
http://seekingalpha.com/news/261761...7_6b-charge-on-nokia-deal?uprof=45#email_link
