Mobile handset maker Nokia announced Thursday that it would slash 10,000 jobs, eliminating roughly 19 percent of its workforce by the end of 2013. In addition, it will close a factory and several research centers in Germany, Canada and Finland, and three senior executives will be stepping down. Investors were warned that second quarter losses would be greater than those seen in the first quarter of 2012. Nokia posted Q1 losses of about $1.2 billion as its sales plummeted 29 percent.
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Drastic Job Cuts May Not Bode Ill for Nokia
Posted by: Peter Suciu June 14, 2012 03:11 PMMobile handset maker Nokia announced Thursday that it would slash 10,000 jobs, eliminating roughly 19 percent of its workforce by the end of 2013. In addition, it will close a factory and several research centers in Germany, Canada and Finland, and three senior executives will be stepping down. Investors were warned that second quarter losses would be greater than those seen in the first quarter of 2012. Nokia posted Q1 losses of about $1.2 billion as its sales plummeted 29 percent.