Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Microsoft has announced plans to cut 7,800 jobs from its global workforce. The cuts come primarily as part of the company's planned restructuring of its phone hardware business. Simultaneously, Microsoft announced a write-down of $7.6-billion related to its Nokia phone business, which it acquired last year. Following this, Microsoft announced its biggest ever quarterly loss on 21st July 2015.
The cuts will affect approximately 6 per cent of Microsoft's global workforce of 118,000. Sources indicate that about 2,300 of the jobs to be lost are located in Finland, where Nokia is headquartered. The recent announcements come on top of the loss of 18,000 jobs announced last year, which are still in progress and also focused on the phone division.
The cuts are expected to be substantially complete by the end of 2015, and to be fully complete by the end of the financial year.
Eurofound (2015), Microsoft, Internal restructuring in World, factsheet number 84286, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84286.
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