#MarketWire: Microsoft to Spend $950M in Restructuring As it Cuts 1850 Jobs and More

Shown Above:  Entrance to Building 99 on the Microsoft Redmond Campus

Shown Above: Entrance to Building 99 on the Microsoft Redmond Campus

#MarketWire is your daily roundup of notable business movements in the technology industry. This segment features news from Microsoft & Helpchat

Microsoft to Lay Off 1850 Employees to Streamline Smartphone Business

In an effort to gather itself up in the smartphone segment, Microsoft has announced laying off 1350 employees in its Finland unit and upto 500 employees globally, to streamline its smartphone business. The restructuring and severance compensation is estimated to cost the tech company close to $950 million.

“We are focusing our phone efforts where we have differentiation — with enterprises that value security, manageability and our Continuum capability, and consumers who value the same,” said Satya Nadella, chief executive officer of Microsoft. Read More

Helpchat Shuts Down Chat Business and Lays Off Employees

Online complaints redressal company Helpchat(Previously known as Akosha), has shut its chat services and fired the chat operations team. The firm has given a 3-months’ severance package to everyone who was let go.

The chat service was launched in June 2015,  “We’ve given a 3-months’ severance package to everyone who was let go and we will do our best to help them find new jobs. I’m working with our HR team on this and we have already roped in 12 startups and big companies for out-placing them into the right job profiles.” says Founder & CEO, Ankur Singla. Read More

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