Featured Articles

5th Generation Broadwell 14nm family comes in three lines

5th Generation Broadwell 14nm family comes in three lines

Intel's 5th Core processor family, codenamed Broadwell, will launch in three lines for the mobile segment. We are talking about upcoming…

More...
Broadwell Chromebooks coming in late Q1 2015

Broadwell Chromebooks coming in late Q1 2015

Google's Chromebook OS should be updating automatically every six weeks, but Intel doesn't come close with its hardware refresh schedule.

More...
New round of Nexus phone rumour kicks off

New round of Nexus phone rumour kicks off

Rumours involving upcoming Nexus devices are nothing uncommon, but this year there is a fair bit of confusion, especially on the…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 15 June 2012 09:44

Nokia to cut 10,000 more jobs

Written by Nedim Hadzic

nokia
Rough times for mobile veteran

There was a time when the name Nokia was synonymous with the mobile phone world, although these days you’ll hardly hear it mentioned among top dogs. Now, Nokia’s CEO Stephen Elop broke some bad news for employees and investors alike, including new layoffs, closing of the company’s only plant and higher than expected Q2 2012 loss. 

In an attempt to save itself, the company will cut 10,000 jobs worldwide, including the 3,700 from the its only and soon-to-be-closed plant in Salo, Finland. This brings the total number of layoffs to 40,000 since Elop was appointed CEO in 2010 - every third worker has since gotten the boot.

Nokia has lost serious ground to Apple and Samsung, and rightly so since it really has nothing to compare to, let alone lock horns, their flagship products. Nokia screwed up bad when it comes to its smartphone strategy, but it’s apparently losing in the cheaper, basic phone markets as well.

This brought  about a second profit warning in only nine weeks and a warning of a worse than expected loss in Q2 2012. Although Nokia looked to its Lumia phones in hope of better times, the sales weren’t as hoped. 

The company seems to be in dire need of a miracle, as the company’s stock has plummeted 70+ percent since it made a switch to Windows Mobile in February. Analysts haven’t been overly kind with their outlooks, but seem to agree that the ongoing restructuring will, if not stop, then at least break the fall somewhat.

More here.

Last modified on Friday, 15 June 2012 11:34

Nedim Hadzic

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments