By Daniel Hunter

Microsoft will axe 18,000 jobs, the largest number of cuts in the firm’s 39-year history.

The majority of the cuts, 12,000, will be made in the mobile phone business, Nokia. Early rumours suggested that around 6,000 jobs would be lost as part of the cuts.

Microsoft employs around 127,000 people around the world.

Chief executive officer Satya Nadella said: “Making these decisions to change are difficult, but necessary.”

Microsoft will reduce the number of management positions to “to accelerate the flow of information and decision making.”

Microsoft purchasing the mobile phone manufacturer in April and pledged to cut costs by $600m (£350.8m) within 18 months of the acquisition.

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