Nope, we're not out of this thing yet.
So the redundancies stories had stopped for a bit – that’s because the financial results were over, not the redundancies themselves. Sorry…
Consequently it comes as little surprise following its nasty Q3 figures and even nastier Q4 that Nokia “continues to increase cost-efficiency and adapt to market situation”.
The corporate speak doesn’t stop there either since “Nokia plans to scale sales, marketing and technology management to match the pruned portfolio and global consumer demand; address the marketing and other activities that will no longer be integral following the Symbian acquisition; streamline the Devices R&D organization; and increase efficiency in certain global support functions.”
In short: 1,700 are losing their jobs because demand for new handsets is way down in the flaccid economic environment. If it’s any consolation these are measures which were part of Nokia’s previously announced plans to realign its business following rubbish Q3 and rubbisher Q4.
That said “Nokia continues to seek savings in operational expenses, looking at all areas and activities across the company” which means the cuts aren’t over yet people. Now put on a happy face…