From CNET: Microsoft is cutting more employees and restructuring its mobile phone business as it continues to struggle in the smartphone market.
The software giant announced on Wednesday that it will lay off 7,800 workers, most of them in its moribund smartphone unit, which it bought from Nokia last year to the tune of slightly more than $7.2 billion.
The company also said that as a result of the layoffs and restructuring, it will record an impairment charge of around $7.6 billion related to assets associated with the acquisition of the Nokia Devices and Services business, in addition to a restructuring charge of approximately $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," Microsoft CEO Satya Nadella said in a statement. "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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