Nokia to see huge layoffs soon

Helsinki, Feb 13: The joys of Nokia's landmark deal with Microsoft not withstanding, there are reports that the mobile-phone making company may soon be offering pink slips.

According to a report published by the website digital daily, the Finnish company has strong restructuring challenges in the next two years and as a part of it may soon be laying off some staff.

Nokia CEO Stephen Elop, is quoted by the website as saying, “We are not announcing how many and in what country," before adding, “But there will be substantial reductions in employment in various locations around the world, and that too will affect Finland."

According to another report by the website yle, the Finnish government has taken note of the developments and is bracing up to face the challenge of re-engaging the laid off staff. Finland's finance minister, Mauri Pekkarinen is quoted by the website as saying, You"re talking about 20,000 people, it"s a big number...We"re talking about far and away the biggest process of structural change that Finland has ever seen in the new technology sector."

For research and development Nokia spends substantially higher than any of its rivals and that is probably where the major chunk of the planned layoff is coming from.

OneIndia News