Microsoft Cutting 7,800 Jobs And Writing Down $7.6 Billion From Nokia Deal

Since taking over for Steve Ballmer as Microsoft chief in February 2014, Satya Nadella has been crystal clear about his vision for the 40 year-old tech company: make it cloud-first and mobile-first. He's made some progress, but in further pursuit of this goal, more changes are on the way: Microsoft announced Wednesday morning that it will restructure its phone hardware business, a move that will involve cutting nearly 8,000 jobs.