For clarity 7,000 jobs are being eliminated while the division is being folded into other business units and will no longer exist separately. Division being eliminated, while still correct in a way, can easily sound like the entire division is no more not moved around.
The division is eliminated. Some people are relocated to other divisions. This isn't really a confusing point.
When said with certain context absolutely. That is all I was trying to highlight - not that the concept itself is complex. There are, after all, plenty of times a division is truly just shut down instead of folded in. The article does a good job of putting in context and comments can lose that so I had to refer back to the article to make sure I understood what happened.