Microsoft to cut 18,000 jobs

Microsoft Corp will slash up to 18,000 jobs, or 14% of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company.The larger-than-expected cuts, announced on Thursday, are the deepest in the company's 39-year history and come five months into the tenure of Chief Executive Officer Satya Nadella. He outlined plans for a "leaner" business in a public memo to employees last week.
Background:
Microsoft to cut 18,000 jobs this year as it chops Nokia [Reuters]