Microsoft to lay off 7,800 as they take $7.6 billion hit after Nokia deal

Satya Nadella, Microsoft CEO

Microsoft has announced that up to 7,800 people would be laid off globally. This is as a result of major restructuring by the new CEO, Satya Nadella, following the purchase of her mobile phone division, Nokia. The company is also expected to  take a $7.6 billion hit on its mobile phone business, a development orientated by Microsoft's former CEO, Steve Ballmer. The purchase of Nokia was one of Steve's most criticized deals, as analysts claims the move has hampered the firm with an aging legacy business.
A third of the job cut will be in Finland where a product development unit would be shut down. The general job cuts s in accordance to Microsoft's statement last year July, that up to 18,000 jobs would be slashed.