Apple to lay off about 200 people at Beats - Bloomberg
(Reuters) - Apple Inc intends to lay off about 200 people at Beats Electronics LLC following its $3 billion acquisition of the headphone and music streaming services company, Bloomberg cited a person with knowledge of the restructuring as saying.
The job cuts will mainly hit human resources, finance and other departments with significant overlap between the two, the news agency reported.
Apple's largest acquisition in decades, announced in May, lands the iPhone maker a fast-growing music subscription business, executives like Jimmy Iovine with strong ties to the recording industry, and a line of premium headphones.
(Reporting by San Francisco newsroom)
- Tweet this
- Share this
- Digg this
Microsoft Corp reported higher-than-expected quarterly revenue, helped by stronger sales of its phones, Surface tablets and cloud-computing products for companies, while keeping its margins intact. Read
Google bolsters artificial intelligence efforts, partners with Oxford. Full Article
China's Xiaomi shifts some smartphone user data out of Beijing on privacy concerns. Full Article