Microsoft Laying Off 18,000 Workers

Published 07/17 2014 04:25PM

Updated 07/17 2014 04:26PM

Painful changes ahead for employees at Microsoft. The software giants announced today it was cutting 18,000 jobs in the next year. That's 14 percent of its workforce.

The first 13,000 layoffs will happen in the next six months. The bulk of the layoffs are employees Microsoft inherited when it bought Nokia. Positions were overlapping in both factories and on the professional side.

This is the largest round of layoffs in the company's history, costing them up to $1.6 billion. But still yet, Microsoft stock is up over 20 percent since February.

Copyright 2017 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.