August 17, 2017

Nokia to cut 4,000 jobs in Europe

Nokia is banking on catching the right smartphone wave.

World leading mobile phone maker Nokia has announced it will cut 4,000 jobs as part of restructure and change of technology focus.

Nokia said the majority of the job losses would be in Denmark, Finland and the United Kingdom. The restructure will be completed by 2012.

With the big growth area being smartphones, Nokia is moving to increase their market share in this area at the expense of some more traditional mobile products.

The firm said it intended to increase its capacity for the development of Nokia smartphones based on the Windows technology.

Nokia president, Stephen Elop said “With this new focus, we also will face reductions in our workforce.”

“This is a difficult reality, and we are working closely with our employees and partners to identify long-term re-employment programs for the talented people of Nokia.”

Nokia is in serious danger of losing their spot near the top of the mobile phone dominance tree. Everyone is having a crack at the smartphone market with competing technologies and platforms.

Backing the right technology is worth billions. Getting it wrong could mean the scrapheap. Maybe running with Windows could be a mistake. Microsoft is starting to feel like yesterdays giant.