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Devices/smartphones

Nokia to Cut Jobs, Stay in Finland

Nokia Corp. (NYSE: NOK) CEO Stephen Elop has countered concerns that he's planning to relocate the handset giant as part of the Finnish firm's new strategy, but has warned that the vendor's home country will not be immune from significant jobs cuts that are coming down the line.

During a media question-and-answer session in London Friday morning, Elop said that "first and foremost, Nokia is a Finnish company."

So, no, for those who may have misheard, he did not say that Nokia is a finished company…

"Finland is our home and will remain our home," he continued.

But he added that the company needs to drastically reduce its operating expenses, and that there are "a range of ways" to deal with the current inefficiencies in the company's operating model.

He said one of those ways would be job cuts. Nokia is planning substantial redundancies in its global workforce, and jobs will be cut worldwide, including in Finland. The exact details are still being worked out, so Elop and his new management team have yet to provide any details.

At the end of 2010, Nokia employed 132,427 staff, of which 63,927 were Nokia Networks employees and 5,452 Navteq Corp. (NYSE: NVT) employees. That leaves 63,048 in the core Nokia devices business (including corporate roles).

Given that Nokia is set to work closely with Microsoft Corp. (Nasdaq: MSFT) on device operating system development, marketing, and services, there will be a lot of people among those 63,048 wondering today if they have a future with their current employer.

— Ray Le Maistre, International Managing Editor, Light Reading

Pete Baldwin 12/5/2012 | 5:12:59 PM
re: Nokia to Cut Jobs, Stay in Finland

Rain Maker -- I suspect you're a Yankee, like me... "Redundancies" is the UK/European word for layoffs.

Rain Maker 12/5/2012 | 5:12:59 PM
re: Nokia to Cut Jobs, Stay in Finland

You used the word redundancies in your post just now and it is misleading. "He said one of those ways would be job cuts. Nokia is planning substantial redundancies in its global workforce, and jobs will be cut worldwide, including in Finland."


I think you intended to use the word "reductions." Redundancies means duplication of roles and is just the opposite of where NOK is.

Pete Baldwin 12/5/2012 | 5:12:58 PM
re: Nokia to Cut Jobs, Stay in Finland

OK, I'll bite:


Stevery, that link is not redundant ... but this one is.

Stevery 12/5/2012 | 5:12:58 PM
re: Nokia to Cut Jobs, Stay in Finland

Maybe this link is redundant, but I find it interesting.


 

digits 12/5/2012 | 5:12:58 PM
re: Nokia to Cut Jobs, Stay in Finland

Thanks for the clarification, Craig.


Yes, I am writing from the UK and wasn't aware that the term 'redundancies' didn't travel.


So, to be clear, there are going to be layoffs worldwide, including in Finland.

Stevery 12/5/2012 | 5:12:57 PM
re: Nokia to Cut Jobs, Stay in Finland

@ craig, lol.


@ RFLR: Thanks, and for anyone else having link problems, click here.

RFLR 12/5/2012 | 5:12:57 PM
re: Nokia to Cut Jobs, Stay in Finland

Btw - there is a native english version of the piece here:


http://www.hs.fi/english/artic...

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