Most of these are from its Nokia mobile phone business.
By: Jayshal Sood
Software giant Microsoft is on a layoff spree. The company fired 7800 people last year. This year, in May, the conglomerate announced that it would lay off a couple of thousand more from its Nokia division that it acquired in 2013.
â€œIn addition to the elimination of 1,850 positions that were announced in May 2016, approximately 2,850 roles globally will be reduced during the year as an extension of the earlier plan, and these actions are expected to be completed by the end of fiscal year 2017,â€ according to its quarterly report on Form 10-K that it filed with Securities and Exchange Commission (SEC).
Microsoft bought Nokia Corporationâ€™s (Nokia) Devices and Services business for $ 9.4 billion, according to its 10-K report. The report also stated that Microsoft completed 17 acquisitions in the fiscal year 2016. These involved a cash consideration of $ 1.4 billion.
In June this year, Microsoft also signed an accord to acquire Linkedin Corporation (â€œLinkedInâ€) for $ 196 per share, according to the report. â€œThe Merger Agreement has been unanimously approved by the Boards of Directors of both Microsoft and Linkedin, and we expect the acquisition will close in the 2016 calendar year, subject to approval by LinkedInâ€™s shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions. The transaction is expected to accelerate the growth of LinkedIn, as well as Office 365 and Dynamics.â€