Microsoft To Pay $200 Million in Severance To ‘Streamline’ Smartphone Business
Microsoft will spend $200 million in severance payments to “streamline” its smartphone hardware business and eliminate up to 1,850 jobs, the company said in a Wednesday announcement. Up to 1,350 of the jobs cut will be at Microsoft Mobile Oy…
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in Finland, plus up to 500 additional jobs globally, it said. “We are focusing our phone efforts where we have differentiation -- with enterprises that value security, manageability and our Continuum capability, and consumers who value the same,” CEO Satya Nadella said in a statement. “We will continue to innovate across devices and on our cloud services across all mobile platforms.” The latest action comes a week after Microsoft said it’s selling its feature phone business to Hon Hai/Foxconn subsidiary FIH Mobile and HMD global Oy for $350 million, which IHS said “highlights Microsoft’s continued failure in mobile” (see 1605180033).