Microsoft announced 10,000 layoffs today and hinted at some changes to its hardware lineup in an internal memo. The software giant is writing down $1.2 billion in its Q2 earnings next week related to severance costs, building leases, and “changes to our hardware portfolio.”
Here’s exactly what Microsoft CEO Satya Nadella said:
We will continue to invest in strategic areas for our future, meaning we are allocating both our capital and talent to areas of secular growth and long-term competitiveness for the company, while divesting in other areas. These are the kinds of hard choices we have made throughout our 47-year history to remain a consequential company in this industry that is unforgiving to anyone who doesn’t adapt to platform shifts.
