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Microsoft to cut 1,200 jobs as part of display ad closure: report

Microsoft Corp. MSFT, -0.50% will close its Web display advertising operations and cut 1,200 jobs as part of the tech company's effort to focus on key areas, Bloomberg reported Monday. The software giant is holding talks with AOL Inc. and AppNexus Inc. to sell the operations although a deal has not been finalized. Shares of Microsoft fell 2% to close at $44.37. AOL was bought out by Verizon Communications Inc. VZ, -0.34% earlier this month.

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