A view of Microsoft and Nokia signs in Peltola, Oulu July 16, 2014. REUTERS/Markku Ruottinen/Lehtikuva
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Microsoft Corp. will cut up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software firm.The size of the cuts were welcomed by Wall Street, which viewed Microsoft as bloated under previous CEO Steve Ballmer, topping 127,000 in headcount after absorbing Nokia earlier this year.About 12,500 of the layoffs will come from eliminating overlaps with the Nokia unit, which Microsoft acquired in April for $7.2 billion, with the bulk of the cuts coming from Nokia itself. The acquisition of Nokia's handset business in April added 25,000 people to Microsoft's payroll.As part of the integration of Nokia, Microsoft is abandoning its experiment in making phones powered by Google Inc.'s Android system, moving some of its Nokia X line of phones onto Windows phone software.
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