Nokia confirms plans to slash further 10,000 jobs by 2014

Failing to reverse its downturn in fortunes Nokia has confirmed it is to cut an additional 10,000 jobs by the end of next year

 

Despite slowing the demise with the recent launch of its first Windows Phone filled handsets, Finnish phone manufacturer Nokia has announced it is to slash a further 10,000 jobs by the end of 2014.

Formerly the world’s largest handset manufacturer, Nokia has struggled to carry its successes into the modern smartphone market with a number of flailing Symbian handsets causing the Samsung and HTC rival to partner with Microsoft to push the software giant’s Windows Phone operating system.

The latest round of layoffs, which are set to be completed by the end of 2013, follow the shedding of around 14,000 jobs last year with Nokia looking to refine its practices and reduce its overhead costs by around $2 billion (£1.3bn).

"We have very challenging business conditions and its very important that we move forward aggressively and urgently," Nokia CEO Stephen Elop said. "We need to ensure that we have the capital requirements in place to help us through our transition."

Whilst the 10,000 jobs losses are set to grab the headlines, the mobile phone giant has revealed it is also planning on closing research and development facilities in German and Canada whilst the company’s largest Finland based manufacturing plant is also for the chop.

"With these planned actions, we believe our Devices and Services business has a clear path to profitability,” Timo Ihamuotila, Nokia's executive vice president and CFO, said. “Nokia intends to maintain its strong financial position while proceeding aggressively with actions aimed at creating shareholder value."

Are you impressed by Nokia’s recent Lumia branded Windows Phone offerings or do you see the company as a rapidly sinking ship? Let us know via the T3 Twitter and Facebook feeds.


Via:WSJ

 

Comments

Be the first to comment…

Back to top
Close
T3 Newsletter
Sign up to recieve the T3 newsletters by entering your details below

Your Details

As you're registering with us. we'd like to think that you'd enjoy receiving the following emails; if you'd rather not receive them, please untick the boxes:

I would like to receive other emails from T3, Future Publishing Limited and it's group companies containing news, special offers and product information
I agree to the terms of use and privacy policy and confirm that I am over 16 years of age *
Close
Log in or Join

By clicking below you agree to our terms and conditions and our privacy policy

Log in to T3.com with your preferred social network

Log in with your T3.com account

CloseJoinPlease complete these additional details

Join T3.com with your preferred social network

OR

Join T3.com

Please tick this box to confirm you are 16 years old or over

Just so we know you're human

Newsletters

I would like to receive T3 email newsletters, packed full of the latest tech news, competitions and exclusive offers.

I would like to receive other emails from T3, Future Publishing Limited and its group companies containing news, special offers and product information.

I would like to receive offers from carefully selected third Parties. We will not share your data with the third party.

Close Edit your profile

Change your password

Newsletters

I would like to receive T3 email newsletters, packed full of the latest tech news, competitions and exclusive offers.

I would like to receive other emails from T3, Future Publishing Limited and its group companies containing news, special offers and product information.

I would like to receive offers from carefully selected third Parties. We will not share your data with the third party.

Social networks

You have authorised these social networks to interact with your T3.com account.

Please ensure you deactivate or revoke access to this website from within your social networks settings to ensure all permissions are removed.

Close Forgotten your password

Forgotten your password?

Please enter the email address that you used to sign up and we'll send you a new password

Close
Forgotten password
Don't have a T3 Account? Join now