Stock in News Today: Microsoft (NASDAQ MSFT) Lays Off More Than 2000 Employees

Microsoft Corporation (NASDAQ MSFT) did a second round of layoffs on Thursday, cutting 2,100 jobs worldwide. About 747 of these jobs were from the Seattle area. Last July, the company laid of 13,000 employees and an additional 2,900 jobs will be cut within a year.

The previous job cuts were due to the Nokia wave, with the deal between Nokia and Microsoft not reaching the desired level. The Nokia layoffs included both professionals and factory workers. Previous reports cite the main reason for July’s job cuts was to reduce redundancies as well as eliminate the engineers who are not developers.

In early July, Microsoft’s chief executive officer Satya Nadella released a memo discussing fiscal 2015 priorities and in it he hinted about changes that could occur as a result of priority shifts.

Microsoft Corporation (NASDAQ MSFT): MSFT Job Cuts

A representative for Microsoft spoke in regards of today’s mass layoff, “The reductions happening today are spread across many different business units, and many different countries. We will continue to go through this process in the most thoughtful manner possible, with the deepest respect for affected individuals and recognition of their service to the company.”

The affected employees will receive severance pay. Right now, Microsoft is going through some significant changes as it transforms from a tech company that specializes in operating systems to a company that specializes in cloud services.

Microsoft Corporation (NASDAQ MSFT) Business News

Microsoft used to be the leader in computer operating system technologies but the huge growth in smartphone sales show the company is no longer in the lead. Many people opt to access the internet on their phones or tablets instead of the laptops or desktops. If this trend continues to accelerate as predicted, the need for traditional computer operating systems will continue to diminish. It is necessary for Microsoft to update company goals and make changes.

Thanks for visiting the website. Be sure to catch all Microsoft Corporation (NASDAQ MSFT) financial news, bookmark us and check all the videos and news articles regarding the Microsoft stock.

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone