Microsoft Corp. plans to cut as many as 7,800 jobs and write down about $7.6 billion on its Nokia phone-handset unit, wiping out nearly the entire value of a business that failed to gain market share since it was acquired last year.
The company also will record a restructuring charge of about $750 million to $850 million for the reorganization under Chief Executive Officer Satya Nadella, the Redmond, Washington-based company said in a statement Wednesday. Microsoft had about 120,000 employees at the end of March.