Shares Of Microsoft Get #PreMarket Bump Following Restructuring Plan Announcement

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Microsoft MSFT Thursday morning announced a restructuring plan in which it will seek to simplify its operations and integrate the newly-acquired Nokia Devices and Services with the company's overall strategy.

As a result of the plan, up to 18,000 jobs could be eliminated over the course of a year. About 12,500 of these eliminations are said to be due to synergies.

Pre-tax charges related to these cuts are expected to be in the range of $1.1 billion to $1.6 billion over the next four quarters. These charges will include severance and related benefit costs in the range of $750 to $800 million and $350 to $800 million of asset related charges.

Shares of Microsoft are up 3.6 percent following the announcement.

Posted In: NewsManagementPress Releases
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