Business

Microsoft drops display ad business, cut 1200 jobs

SAN FRANCISCO: Microsoft will  close its web display advertising business, handing operations over to AOL Inc and AppNexus Inc and cutting about 1,200 jobs, Bloomberg reported.

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Some of the affected employees will be moved to AOL and AppNexus, while some more will be offered positions at Microsoft, Bloomberg said, citing a person with knowledge of the matter.

The remaining employees will be laid off. The financial terms of the deal weren’t immediately known, Bloomberg reported- Reuters

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