Software giant Microsoft on Wednesday announced plans to cut 1,850 jobs as part of streamlining the smartphone business it acquired from Nokia.
Microsoft will post impairment and restructuring charge of approximately $950 million including approximately $200 million towards severance payments.
“We are focusing our phone efforts where we have differentiation — with enterprises that value security, manageability and our Continuum capability, and consumers who value the same,” said Satya Nadella, chief executive officer of Microsoft.
Microsoft will reduce up to 1,350 jobs at Microsoft Mobile in Finland, as well as up to 500 additional jobs globally. Employees working for Microsoft, a separate Microsoft sales subsidiary based in Espoo, are not in scope for the planned reductions.