Daniel Porter
Jun 14, 2012

Plot thickens: Nokia sheds another 10,000 jobs

In the first of three press releases this morning, increasingly in-trouble Nokia revealed a "range of planned actions aimed at sharpening its strategy, improving its operating model and returning the company to profitable growth." The company emphasized focused investment on core areas of their business, particularly their line of Lumia smartphones and on providing location-based services. As much as they try to hide it, the glaring aspect of this press release remains the fact that Nokia is hemorrhaging assets in an attempt to stay afloat, exemplified by another 10,000 global job cuts -- after which Nokia will have cut nearly one-third of its pre-2010 workforce.

Nokia sharpens strategy and provides updates to its targets and outlook » Nokia – Press
Company announces targeted investments in key growth areas, operational changes and significantly increased cost reduction target Company lowers