Nokia Company Laying off 7,000 Worldwide

[OverDone]

Source: WSJ

—Nokia Corp. announced plans Wednesday to reduce its global work force by 7,000, in part by transferring 3,000 employees to global consulting firm Accenture PLC in an effort to save €1 billion ($1.46 billion) in operating costs by 2013.

http://online.wsj.com/article/SB10001424052748704187604576288460967151294.html?mod=googlenews_wsj



No link yet.

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Ouchie thats a major cut coming from a large company... Sucks to see for sure
Unfortunately I don't see stuff getting better anytime soon. http://www.dailyjobcuts.com

Maybe QE3 may help

[johnroshan]

1. Nokia has been going downhill for a while now.

Cellphone and Smartphone markets are intensely competitive and Nokia is lagging behind. The company I work for had Nokia as a big customer previously but for the past year we have moved away from Nokia and are looking elsewhere to sell our wares.

Chinese and regional manufacturers have caught the low cost mobile sector. High cost smartphone business is crowded, with Apple, Samsung and RIM eating away at the phenomenal hold Nokia once had. I believe they also made a bad choice of siding with Microsoft Windows Mobile instead of going with Android.

[fasttense]

2. Is that a sign of our recovery? Or just more of the same economic depression? n/t

[dotymed]

3. History has already proven that we can not

avoid crashes or stop a DEPRESSION (That's what it is) unless WE regulate the uncontrolled profit making (and keeping) of corporate institutions that our SCOTUS now considers "Persons."
The Empire will keep crumbling...of course Austerity measures for 90% of Americans and record profits for the other 10%.....what BULLSHIT.

[OverDone]

4. I Agree

Makes me want to gag, when all they do is say Recovery or recession over.

[Xithras]

5. Nokia is getting hammered in the phone market.

Virtually all of the major western phone carriers have embraced smartphones as "the" product to push on consumers (mostly because of increased profit margins from their associated data plans), and Nokia is stuck trying to hawk smartphones that nobody wants. Windows Phone 7 is actually a VERY good OS that is easily the equal of iOS and Android, but there is little market interest in it. People want their iPhones and Androids, and not some badly named and poorly marketed "Windows Phone 7".

If Nokia had gone the Android route, they'd probably be doing a lot better. Instead, they bet on the losing horse.

[OverDone]

6. Just another addition worth adding

Panasonic to cut 40,000 workers by FY12 - Nikkei

www.reuters.com/article/2011/04/27/panasonic-idUSL3E7FR48S20110427

Freakin Amazing, and still we are in a recovery.

[Raine]

7. That's too bad. I have had a couple of Nokia phones

and really like them, they're good phones.