Wednesday, November 05, 2008

Nokia Cuts 600 Jobs

Finnish mobile giant Nokia has announced that it is trimming down its operations by cutting over 600 positions, mainly in marketing and sales departments.

The Nokia Research Center (NRC), the business unit that explores and develops technologies that will be available in the marketplace in five to ten years, will also focus on fewer research areas from now on.

Like many businesses, Nokia is feeling the nasty sting of the economic downturn. Its recently announced Q3 earnings weren't spectacular either (down over 28 percent on a year earlier), so these lay-offs don't exactly come unexpectedly. It's easy enough to find the irony when you look at the two news releases side by side, but I think Nokia is actually making the right strategic move by shifting its focus to custom internet services for countries where there is much room for growth and very specific needs.

-excerpt Washington Post

1 comment:

Greg said...

Crisis is for evrybody.... but always pay the workers...
http://cabarcenoblog.blogspot.com/