Microsoft To Cut 1,850 Nokia Jobs, Formerly World’s Largest Cell Phone Maker

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

Finland newspaper Helsingin Sanomat reported that Microsoft (NASDAQ: MSFT) will cut as many as 1,850 as its phone operation, formerly Nokia.

The huge software company immediately stated that it would take a $950 million impairment charge

A decade ago, Nokia was the largest market of cellphones in the world.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

AXON Vol: 1,135,209
CDW
CDW Vol: 2,437,574
GEHC Vol: 8,107,469
IBM
IBM Vol: 16,103,112
CHTR Vol: 2,972,111

Top Losing Stocks

MU Vol: 60,251,824
ON Vol: 15,490,005
ENPH Vol: 6,293,491
LRCX Vol: 16,065,247
MCHP Vol: 18,305,346