Microsoft To Lay Off 18,000

Microsoft announced the biggest layoffs in its history Thursday, saying it will cut up to 18,000 jobs or 14 percent of its staff as it works to cut down on management layers and integrate the Nokia cellphone business it bought in April. The news sent Microsoft’s stock up 2 percent in morning trading. Although the job cuts had been expected, the extent of them was a surprise. It’s the boldest move by CEO Satya Nadella since he took the reins from Steve Ballmer in February. In a public email to employees Thursday , he said the changes were needed for the company to “become more agile and move faster”/ Associated Press . More here.

Question: Is the bloom off the rose in the high-tech industry?