Looks like Microsoft’s layoff rumors were far too optimistic.

In a public announcement, Microsoft chief Satya Nadella revealed today that the company will cut up to 18,000 jobs “in the next year.” Nearly 70 percent of the layoffs will affect ex-Nokia employees — up significantly from the projected 1,000 job cuts reported by a Finnish newspaper yesterday.

As we’ve previously detailed, Microsoft bought the cellular device devision of Nokia last spring, and since then 25,000 Nokia employees have become Microsoft employees. Of Nadella’s 18,000 job cuts, “Nokia Devices and Services is expected to account for about 12,500 jobs,” he said.

Nadella said Microsoft plans to add new “roles in certain other strategic areas,” but he made no promises in regard to the number of jobs Microsoft will create.

Hidden at the end of Nadella’s announcement, the CEO also revealed that Microsoft plans to kill off Nokia’s experimental “Nokia X” Android project.

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