Last year Microsoft announced its buyout of Nokia, the Finnish communications and information technology multinational corporation. Now as Microsoft absorbs Nokia, the new CEO of Microsoft has announced the largest layoff – 18,000 employees – in the company’s history. After the announcement of the layoffs, the company’s stock increased to a point that it hasn’t seen since the dot-com boom. Although Microsoft is no stranger to the idea of consuming its competitor, it does beg the question: How will this affect the economy?

Mergers and acquisitions are promoted as having a good economic impact for the general public and consumers. Following the announcement of the layoffs, Microsoft’s new CEO has been adamant that the recent absorption of Nokia will allow the company to focus on consumer needs to better benefit them through their products. With the acquisition of Nokia’s 30,000-employee workforce, 12,500 will be laid-off. At the same time Microsoft is laying off 5,500 of its own employees. [Read more]

http://wp.me/p4sUqu-v5 – Michael’s Blog

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