Microsoft is said to be planning its biggest round of layoffs in at least five years as it integrates Nokia's handset unit. Norman Young, senior equity analyst at Morningstar, says he expects the cuts to take place both at Nokia's handset business as well as at Microsoft, and reveals how they'll likely play into Microsoft's transition of becoming a services company. He also weighs in on Chief Executive Satya Nadella's strategy of focusing on mobile devices and cloud computing and reveals what to look for in the company's upcoming quarterly report to gauge the progress it's making in its transition. TheStreet's Brittany Umar has details.

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