Microsoft to Slash up to 7,800 Jobs

Microsoft Corp. announced plans Wednesday cut up to 7,800 positions and take a $7.6 billion write-down on its Nokia business amid efforts to restructure its struggling phone hardware business, NBC News reported. The technology company also said it would take a restructuring charge of $750 million to $850 million. "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," CEO Satya Nadella wrote in an email to employees. "In the near-term, we'll run a more effective and focused phone portfolio while retaining capability for long-term reinvention in mobility."

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