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Microsoft confirms plan to cut 18,000 jobs

2014-07-17 14:53:00| Telecompaper Headlines

(Telecompaper) Microsoft has confirmed plans to cut 18,000 jobs over the next year, mainly at the mobile phone activities acquired from Nokia. Of the total, about 12,500 professional and factory positions will be eliminated through synergies and strategic alignment of the Nokia Devices and Services business, Microsoft said. When Microsoft completed the takeover of the Nokia business in April, it acquired around 25,000 additional employees. Microsoft expects to complete most of the cuts by the end of this year and all the restructuring by mid-2015. The plan will result in USD 1.1-1.6 billion in pretax charges over the next four quarters, including USD 750-800 million for severance and related benefits and USD 350-800 million in asset writedowns. The plans were outlined in an email from Microsoft CEO Satya Nadella to Microsoft employees and an email from former Nokia CEO and Microsoft Executive VP Stephen Elop to Microsoft Devices Group employees. 

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GSK confirms it fired staff for corruption in China in 2001

2014-07-17 13:30:15| Biotech - Topix.net

GlaxoSmithKline said it fired staff in China for bribing officials in 2001 in a case that predates wider allegations of corruption for the British drugmaker in the country by more than a decade.

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'Green Lantern' Is Really Just 'Green Van Wilder,' Confirms World's Most Honest Trailer

2014-07-17 11:48:04| Toys - Topix.net

Remember the 2011 Ryan Reynolds fiasco that was "Green Lantern"? You know, the one that tanked so hard, it didn't even get a sequel.

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Microsoft confirms job cuts

2014-07-17 02:00:00| Total Telecom industry news

Nokia to bear the brunt of software giant's 18,000 redundancies; Nokia X range binned.

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Portugal Telecom Confirms Espirito Santo Default

2014-07-16 14:36:49| IT Services - Topix.net

Portugal Telecom SGPS SA confirmed Wednesday that it didn't receive the repayment of a a 847 million debt from a unit of troubled bank EspA rito Santo International SA, and the terms of its merger with Brazil's Oi SA have been revised because of that.

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