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Nokia To Cut 10,000 Jobs and Close 3 Facilities 350

Posted by timothy
from the role-of-management-is-to-suck dept.
parallel_prankster writes "NY Times reports that Nokia said on Thursday it would slash 10,000 jobs, or 19 percent of its work force, by the end of 2013 as part of an emergency overhaul that includes closing research centers and a factory in Germany, Canada and Finland, and the departures of three senior executives. The company also warned investors its loss was likely to be greater in the second quarter, which ends June 30, than it was in the first, and that the negative effects of its transition to a Windows-based smartphone business would continue into the third quarter. Nokia, based in Espoo, Finland, posted a loss of €929 million, or $1.2 billion, in the first quarter as sales plummeted 29 percent. Once the undisputed global leader in the mobile phone business, Nokia has been outcompeted by Apple, as well as by Samsung and other makers of handsets running Google's Android operating system." (Here's another source, if you're hit by the NYT paywall, and the company's own positive spin.)
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Nokia To Cut 10,000 Jobs and Close 3 Facilities

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