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Microsoft to cut up to 7,800 jobs

JeeYeon Park
Getty Images. Microsoft announced plans Wednesday to restructure the company's phone hardware business and to cut up to 7,800 positions.

Microsoft (MSFT) announced plans Wednesday cut up to 7,800 positions and take a $7.6 billion write-down on its Nokia (Helsinki Stock Exchange: NOK-FI) business amid efforts to restructure its struggling phone hardware business.

The technology company also said it would take a restructuring charge of $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," CEO Satya Nadella wrote in an email to employees. "In the near-term, we'll run a more effective and focused phone portfolio while retaining capability for long-term reinvention in mobility."

The job cuts are in addition to the 18,000 positions Microsoft said it planned to cut a year ago.

Shares hovered around the flatline in early morning trading.



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