Tag: mobile technology

Microsoft mobile technology news doesn’t look good with 3,000 lay-offs

The smartphone division of the company is experiencing a staggering number of job losses.

Microsoft has made an unhappy mobile technology news announcement of 3,000 upcoming job losses. The majority of the lay-offs are the result of the astounding failure of the Nokia deal and the redundancies it created.

The affected employees will be losing their positions over the next year within that division.

The Microsoft smartphone hardware business and global sales division will experience a massive reduction in size. Moreover, this is only the latest bad mobile technology news the company has issued this year. Back in May, it confirmed that its mobile branch would be downsizing by 1,850 jobs. At that time, Terry Myerson, the vice president of Windows and device said “we’re scaling back, but we’re not out!”

This all stems from the mobile technology news when Microsoft bought the devices and services business at Nokia.

Mobile Technology News - Shocking NewsThe acquisition occurred in 2013. Microsoft made the purchase for $7.1 billion (€5.4 billion). Not only did it buy the devices and business, but it also took in all the associated problems. As it unfolded, it became one of the most disastrous tech acquisitions in history.

Three months after the acquisition closed, Microsoft eliminated 18,000 positions. The majority were from the phone hardware division. This mainly removed employees who had become a part of Microsoft by way of the Nokia buy-out. One year after that point, Microsoft wrote off $7 billion and laid off 7,800 more employees.

This downward spiral continued into May when the vast majority of the feature phone business was sold at a tiny fraction of its purchase price and additional 1,850 jobs were lost.

Now, the mobile technology news trend continues at Microsoft. In the elimination of redundancies, the company is slashing 2,850 jobs. Within a U.S. regulatory filing, the software giant explained: “we periodically evaluate how to best deploy the company’s resources.” Microsoft also said the restructuring would primarily affect the smartphone hardware business and global sales. These latest position eliminations will be in addition to those announced in May and will not include those figures in their total.

NYSE mobile phone options now available to traders

The New York Stock Exchange may be 224 years old, but it is now using 21st century technology.

The rules for NYSE mobile phone use have now changed. Brokers can use their personal mobile devices on the trading floor in Manhattan. This decision is a significant one and is meant to address a problematic issue.

The decision was made following a hectic day last Friday when a communications breakdown occurred.

That day, the results of the Brexit were announced, and the United Kingdom voted to leave the European Union. The landline service to brokers failed. That said, not all brokers had NYSE mobile phone approval. The brokers were not allowed to use their mobile devices without that specific authorization. Following that communications disaster, personal mobile phones can now be used.

This NYSE mobile phone decision may be a temporary one, according to a regulatory filing.

NYSE mobile phone new york stock exchangeA statement from the NYSE read “Communications with customers is a vital part of a floor broker’s role.” It also added “Brokers who do not have exchange authorized and provided portable phones should be permitted to use personal cell phone devices, in lieu of the non-operational wired phone lines.”

This indicates that the authorized mobile devices and provided portable phones are the preferred methods. However, should those become non-functional or unavailable, then personal mobile phones become an allowable alternative. It is also the only option for many brokers at the moment as the outage was a lengthy one.

At the time of the writing of this article, the NYSE was still working with its phone carrier. The hope was that the floor brokers’ telephones would be working again soon. The outage that brought about this change in NYSE mobile phone regulations did not impact the “designated market makers.” They are the overseers of the floor for stock trades.

Should this regulation remain as a kind of back-up plan for brokers it could help to avoid the type of communication struggle they faced last Friday. Many consider this move to use personal mobile phones a step in the right direction to catch the New York Stock Exchange up to the current century.