Microsoft announces it is laying off 18,000 workers


Microsoft announces it is laying off 18,000 workers

Microsoft has announced that it will be laying off 18,000 workers, which is around 14% of its workforce. Out of that number, around 12,500 will come from the company's newly acquired Nokia Devices and Services unit.

According to a memo from CEO Satya Nadella, the first 13,000 will be let go within the next six months. As a result of this lay off, the company will incur pre-tax charges of $1.1 billion to $1.6 billion for severance and related benefits costs and asset related charges over the next four quarters.

Nadella also said that as a result of these lay offs, there will be "fewer layers of management" and that the company will enjoy a flatter organization structure. Hit the link below to read Nadella's memo to the company.

Source: Techcrunch

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