You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Rise inloanssignalsgrowth
    WASHINGTON – Americans are slowly but steadily borrowing more money, bringing to an end a five-year effort to cut household debt that has slowed consumer spending and the economy.
  • 'Frozen' bests Barbie as top pick
    NEW YORK – For the first time in more than a decade, Barbie has been frozen out of the top spot on the holiday wish lists of girls.The new reigning champion in the hearts of little girls is Team Elsa.
  • Apple valuehits record $700 billion
    SAN FRANCISCO – Apple’s market value surpassed $700 billion in Tuesday trading, an unprecedented milestone among U.S. companies.Shares backtracked in the afternoon, closing down $1.03 at $117.
Advertisement
AP
This July 3, 2014 photo shows Microsoft Corp. signage outside the Microsoft Visitor Center in Redmond, Wash. Microsoft on Thursday, July 17, 2014 announced it will lay off up to 18,000 workers over the next year.

Microsoft to cut up to 18,000 jobs over next year

REDMOND, Wash. (AP) — Microsoft says it will eliminate up to 18,000 jobs over the next year as it works on integrating the Nokia devices business it bought in April.

With the Nokia deal, Microsoft's employee headcount rose from about 99,000 last year to 127,000 as of last month.

Microsoft Corp. said Thursday that of the up to 18,000 jobs, about 12,500 professional and factory jobs will be cut. It anticipates charges of $1.1 billion to $1.6 billion over the next four quarters, which includes $750 million to $800 million for severance and related benefit costs.

Microsoft's stock rose slightly in Thursday premarket trading.

Advertisement