Nokia's Woes Continue With Job Cuts, Plant Closures
Another dose of sobering news for Nokia this week, as the Finnish handset maker said it will cut up to 10,000 jobs through the end of 2013 and close several of its major manufacturing sites in order to cut costs. Nokia also lowered its guidance for its upcoming fiscal second quarter. Weird thing about the cost cutting is that while Nokia expects it to save $2 billion by the end of next year, $1.2 billion of that will be eaten up by restructuring charges.
Next Slide >
