Microsoft is announcing its biggest ever job cuts today, affecting 18,000 employees. In a memo, Microsoft CEO Satya Nadella says the company will cut 18,000 positions in the next year, with former Nokia employees expected to account for around 12,500 jobs. “We are moving now to start reducing the first 13,000 positions, and the vast majority of employees whose jobs will be eliminated will be notified over the next six months,” says Nadella. Microsoft currently had 127,104 employees as of June 5th, so the cuts mean a reduction of around 14 percent of the company’s workforce.