Microsoft to cut up to 18,000 jobs over next year

Microsoft confirmed it will cut up to 18,000 jobs over the next year, part of the tech titan's efforts to streamline its business under new CEO Satya Nadella, according to USA Today.

According to Fox Business, the move marks the largest job cuts in the company's 39-year history. They come five months into the tenure of Nadella.

Many of the cuts are in the Nokia unit, which Microsoft purchased in April for $7.2 billion. The purchase pushed Microsoft's employee count to 127,000.

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