Nokia announces major restructuring; 10,000 jobs could be lost by 2013

Nokia has issued a release Thursday morning, actually it was more of a dire warning. The Finnish based handset manufacturer said that to 'sharpen its strategy, improve its operating model and return the company to profitable growth' the company would cut up to 10,000 jobs and close its Salo factory by the end of 2013. The company wants to reduce its operating expenses while at the same time increasing the location based services it makes available to Nokia customers. It also plans on bringing in revenue by offering its mapping and location-based services to other industries
Nokia says it will invest in 'products and experiences' that will make Nokia handsets stand out and 'available' to more... »read more

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