SAN FRANCISCO (Diya TV) — Tech giant Microsoft are preparing for another round of healthy layoffs, this time to the Nokia division, which the company acquired in 2013 — nearly 3,000 more layoffs are coming, on top of the 7,800 who received pink slips last year from the company.
“In addition to the elimination of 1,850 positions that were announced in May 2016, approximately 2,850 roles globally will be reduced during the year as an extension of the earlier plan, and these actions are expected to be completed by the end of fiscal year 2017,” Microsoft’s quarterly 10-K report as filed with the Securities and Exchange Commission read.
About 900 of those workers set to be released have already been notified, the company said.
At this point, Microsoft has essentially shed nearly all of the Nokia mobile phone business that it acquired back in April 2014 for $7.2 billion. The report added that Microsoft completed a total of 17 acquisitions in fiscal year 2016. The value of the acquisitions involved cash considerations of $1.4 billion.
Just last month, the Redmond, Wa.-based company signed an agreement to acquire the professional social media platform LinkedIn for just north of $26 billion, or $196 per share. The acquisition has already been approved by the companies’ board of directors.
“The merger agreement has been unanimously approved by the Boards of Directors of both Microsoft and Linkedin, and we expect the acquisition will close in the 2016 calendar year, subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions. The transaction is expected to accelerate the growth of LinkedIn, as well as Office 365 and Dynamics.”
