Microsoft announced an employment cut worth 1,850

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    As per latest information obtained, software giant, Microsoft Corp. – that had been struggling to re-build its smartphone empire – announced to disassemble the mobile-phone operations it acquired from Nokia Corp.

    Taking an impairment and restructuring *charge worth $950 million, it will be cutting off an approximate of 1,850 employees.

    (*It will record the charge in the current Q in its More Personal Computing segment)

    INSIGHT: Microsoft acquired Nokia Corp.’s handset business worth $9.4 billion in year 2014. Also, in year 2015, the firm shed off nearly 7,800 employees while writing down $7.6 billion related to its mobile-phone business.

    Microsoft’s Windows and Devices Group’s executive vice president, Terry Myerson consoled its employees by stating that the firm hasn’t done yet with exiting mobile-phone business.

    As his email reads,

    “Microsoft will continue to develop great new devices. We’re scaling back, but we’re not out! When I look back on our journey in mobility, we’ve done hard work and had great ideas, but haven’t always had the alignment needed across the company to make an impact.”

    Although it’d be painful for Microsoft to slightly decline its mobile phone business from where it presently is, still the firm seems hopeful in griping back its market status.

    Sales of smartphones running various versions of Microsoft’s Windows software amounted to 0.7% of the market in the first quarter of 2016, as per market research firm Gartner.

    UPDATE: Last year, Windows’ share of sales settled at 2.5%.

    Not to mention, the software giant is also banking on Windows 10 — the latest version of its flagship operating system — to grow that business. Released last summer, Windows 10 is the first version of the OS that can run on mobile phones, game consoles and PCs.

    Considering it as an eye candy, the company expects that the vast number of devices running Windows 10 — 300 million by the latest count — will convince software developers to create the sort of apps that will bring mobile customers to the company.

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    I am an independent trader currency and commodity with about eight years of experience. I love the financial world because it is like one big puzzle and I hope we help each other out to solve the puzzle to help us realize our dreams. I received my BBA in Accounting (With Honors) - from The University of Texas - San Antonio. Achievements: Beta Alpha Psi National Accounting Honors Fraternity member, Leadership Challenge Participant, Dean's List. I have passed the Series 63, 22, Texas Real Estate exam, and the DRI Business Continuity exam.

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