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Microsoft cuts 1,850 jobs as it "streamlines" mobile hardware business

Restructuring to cost company $950 million
Microsoft cuts 1,850 jobs as it

Microsoft has announced that it will be cutting 1,850 jobs in order to "streamline the company's smartphone hardware business".

The move will cost around $950 million.

1,350 jobs will be lost Microsoft Mobile in Finland, with the remaining 500 jobs cut across the globe. The Microsoft sales office in Espoo will not be affected.

If you can't beat 'em...

"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.

"We will continue to innovate across devices and on our cloud services across all mobile platforms."

The cuts are another sign of Microsoft's steady decline in mobile hardware.

The company also recently sold the rights to the Nokia trademark for $350 million to Finnish company HMD Global.