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May 26, 2016
NEW YORK (AP) — Microsoft said Wednesday it will cut up to 1,850 jobs and take a $950 million hit to its books as it attempts to salvage its rocky entrance into the smartphone market.
The company acquired Nokia's phone business in 2014 for $7.3 billion, hoping to expand its share of the fast-growing mobile tech industry. But by last summer it had slashed the value of that business severely and eliminated 26,000 jobs.
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