12,500 layoffs underway

Microsoft releases a statement that about 12,500 jobs will be cut over the next year. This reduction is part of the company’s 7 billion-dollar acquisition plan it has for Nokia’s handset enterprise. Representatives says the new CEO, Satya Nadella, wants to help Microsoft to simplify and streamline its business practices. In a memo, Nadella assures employees

My promise to you is that we will go through this process in the most thoughtful and transparent way possible

Employees affected will receive notification over the next six months, along with job transition assistance and severance pay. This is the largest lay-off since 2009, when 5,000 employees were cut.