Microsoft announced Wednesday it would let go up to 1,850 employees and a Finnish union called it the end of the company’s smartphone manufacturing business, bought from Finnish telecom equipment maker Nokia. 402 more words
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Microsoft just confirmed the end of its mobile phone division, which began when the company purchased Nokia in 2014.
The software behemoth purchased the once #1 phone manufacturer in 2014 for $7.2 billion, after a number of failed attempts to make its… 604 more words
Microsoft announced Wednesday it would let go up to 1,850 employees and a Finnish union called it the end of the company’s smartphone manufacturing business, bought from Finnish telecom equipment maker Nokia. 334 more words
”Microsoft is further scaling back its flagging phone business, exiting the consumer market and cutting another 1,850 jobs,” Ina Fried reports for Recode. “As part of the move announced Wednesday, Microsoft will take a $950 million charge and cut what little remained of its Finland-based phone hardware business, unwinding the last of its disastrous $7.2 billion acquisition of Nokia’s phone unit.” 270 more words
Microsoft’s $9.5 billion acquisition of the Nokia phone handset business in 2014 is even more of a bust than the company recognized last year when it cut 7,800 jobs — about 7% of its workforce– and took a $7.6 billion impairment charge related to the purchase. 259 more words
Microsoft is continuing to scale back its smartphone business, announcing plans to lay off up to 1,850 employees, as the tech giant has failed to gain traction against Apple and Google Android devices. 308 more words