Microsoft Could Announce New Round of Layoffs as Early as Today

Microsoft (MSFT) plans to announce a major new round of layoffs as early as today. The New York Times says the layoffs would be in addition to the approximately 18,000 employees that Microsoft said it planned to let go a year ago. The new job cuts are expected to come from the hardware group including the struggling smartphone business that it acquired from Nokia last year in a $7.2 billion deal. Microsoft CEO Satya Nadella hinted at job cuts in June when he warned in an email message that the company would need to make some tough choices in areas where things are not working. Microsoft stock closed Tuesday at $44.30, down from its 52 week high of $49.50 reached last November.