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

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

July 17th, 2014 by Associated Press in Local - Breaking News

REDMOND, Wash. - 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.