News: Microsoft Plans Jobcut $MSFT

Microsoft Corp. MSFT, -0.20% is expected to announce a major round of new layoffs as early as Wednesday, according to a New York Times report, citing unnamed sources. The cuts would be in addition to the roughly 18,000 employees that Microsoft planned to lay off a year ago, the report said.

Microsoft is not expected to leave the smartphone business in the near term, given the importance of mobile devices in the technology business. The company is preparing to release a new version of its Windows operating system for PCs, smartphones and other devices, which it hopes will attract more interest from software developers.

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