Microsoft cuts up to 1,850 jobs in troubled mobile unitMay 25, 2016 - 16:41 AMT PanARMENIAN.Net - 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 Associated Press reports. The company acquired Nokia's phone business in 2014 for $7.3 billion, seeking to capitalize on and the fast-growing industry. But by last summer it had slashed the value of that business severely and it eliminated 26,000 jobs. 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, AP says. The bulk of the jobs cuts announced Wednesday, May 25 – 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, Washington, hopes to complete most of the "streamlining" by year's end, AP says. The company's stock rose slightly in premarket trading. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |