Microsoft Eliminating 18,000 Jobs
As widely anticipated, Microsoft today confirmed that it will eliminate thousands of jobs before 2014 draws to a close.
It was previously believed that the number of cuts would exceed the 2009 layoffs of nearly 6,000 laborers. Unfortunately, this new round of job cuts is vastly more sweeping than the downsizing that took place 5 years ago.
In response to Microsoft's struggling mobile ambitions, the software giant is scaling back its total workforce to the tune of 18,000. Specifically, 12,500 of those jobs are coming from professional/factory positions pertinent to the company's acquisition of Nokia.
All told, this is the biggest employment reduction in company history for Microsoft.
"Under the Ballmer era, there were many layers of management and a plethora of expensive initiatives being funded that has thus hurt the strategic and financial position the company is in, especially in light of digesting the Nokia acquisition," Daniel Ives, an analyst with FBR Capital Markets, tells USA Today.
Source: USA Today