Only Hewlett-Packard Co. announced more job cuts than Microsoft in 2014. In July, the company said it would cut roughly 18,000 jobs over the course of a year as part of its restructuring plan. More than 12,000 of these layoffs were related to the company's recent acquisition of Nokia Devices and Services. Other cuts included the closure of the company's Silicon Valley research facility. In addition to layoffs, Microsoft also announced in July it would take a restructuring charge of between $1.1 billion and $1.6 billion.