Nokia To Reorganize, Announces Job Cuts - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Other

Nokia To Reorganize, Announces Job Cuts

Finland-based company said it would slash 90 positions from its Enterprise Solutions Business Group and as many as 200 in its Networks business group.

MANHASSET, N.Y. — Hit by weakened profits and a changing global business climate, Finland-based communications company Nokia said Tuesday (Jan. 31) it plans to redeploy hundreds of workers in its Enterprise Solutions Business and Networks business groups, possibly eliminating many positions.

Nokia said its Networks business group would increase R&D in emerging markets as wireless infrastructure is expanded but likely decrease R&D investment in Finland. A company official said that 200 from its Networks group would be affected though added the company hopes to find positions elsewhere in Nokia for many of the displaced workers.

In addition, Nokia said it would eliminate 90 positions in its Enterprise Solutions Business Group. The company said it would offer voluntary severance and the possibility for redeployment within the company where feasible.

At the end of 2005, Nokia employed 58,874 people globally, of whom 23,485 worked in Finland. Nokia employed 13,237 research and development personnel in Finland at the end of 2005.

In its fourth quarter, Nokia posted higher sales but lower profits as margins fell from lower handset prices. The company projects moderate sales growth for 2006, as much of the increase comes from low-end phones in developing countries.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
News
Can Cloud Revolutionize Business and Software Architecture?
Joao-Pierre S. Ruth, Senior Writer,  1/15/2021
Slideshows
10 IT Trends to Watch for in 2021
Cynthia Harvey, Freelance Journalist, InformationWeek,  12/22/2020
News
How CDOs Can Build Insight-Driven Organizations
Jessica Davis, Senior Editor, Enterprise Apps,  1/15/2021
Register for InformationWeek Newsletters
Video
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll