MASSIVE LAYOFFS AT MICROSOFT
The venerable tech giant announced that over 18,000 of its employees will be let go in the coming year, making this the company's largest layoff till date.
The bulk of the layoffs, which will affect about 14% of the company's workforce, will be from Nokia's devices and services business, which was acquired by Microsoft a few months ago. In a memo to his staff, Chief Executive Officer Satya Nadella said that Microsoft found many redundancies between the two companies, including both professional and factory workers. This restructuring is part of the company's new strategy, he said, which will “focus intently on improving its mobile and cloud productivity software, including Office 365, Windows Phone, Windows Azure, Skype, OneDrive and Bing”. The layoffs are expected to cost the company up to $1.6 billion (QR5.8 billion) over the next year and is only the second mass layoff in Microsoft's history, after 2009 when the recession forced it to cut over 5,000 jobs.