The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.3 - Manufacture of communication equipment
7,800 jobs Number of planned job losses
Announcement Date
8 July 2015
Employment effect (start)
8 July 2015
Foreseen end date
31 December 2015
Description
Microsoft has announced plans to cut 7,800 jobs from its global workforce. The cuts come primarily as part of the company's planned restructuring of its phone hardware business. Simultaneously, Microsoft announced a write-down of $7.6-billion related to its Nokia phone business, which it acquired last year. Following this, Microsoft announced its biggest ever quarterly loss on 21st July 2015.
The cuts will affect approximately 6 per cent of Microsoft's global workforce of 118,000. Sources indicate that about 2,300 of the jobs to be lost are located in Finland, where Nokia is headquartered. The recent announcements come on top of the loss of 18,000 jobs announced last year, which are still in progress and also focused on the phone division.
The cuts are expected to be substantially complete by the end of 2015, and to be fully complete by the end of the financial year.
Sources
8 July 2015: Microsoft press release
8 July 2015: The Washington Post
8 July 2015: The Guardian
22 July 2015: BloombergBusiness
Citation
Eurofound (2015), Microsoft, Internal restructuring in World, factsheet number 84286, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/84286.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
