Almost 16000 product developers' jobs are at a risk after Nokia plans to start lay-off talks in the last week of April after a Finnish election on 17th of the month, said Chairman Jorma Ollila. “It is not only about Finland but a global restructuring of our product development. Precise plans on job cuts are not made,” he said. Finnish labour unions fear the move could cost more than 5,000 jobs. “In the horizon there is nothing that would be particularly horrible for Finland, or something that would give ground for the argument that Finland would not be treated well,” he said. “This is not (for Finland) like what we have seen with the closures of pulp plant or paper plant. There is a huge shortage of telecommunication experts in Europe, and in Finland it is the same,” Ollila said. Ollila also added, “Big shareholders in Finnish group Nokia like its new smartphone strategy but some are impatient with the timescale.” “We have spoken with 20-30 central shareholders and their message is very clear. They consider the strategy good and the Windows decision a right one,” Ollila was quoted as saying in an interview. “They do not like that we are about to start a restructuring period that takes 18 months or two years. It is such a long period that some investors do not have patience for that,” he told the newspaper, adding Nokia's share price was “painful for the board”. Nokia, the world's top cellphone maker by volume, last month announced a strategy overhaul, dumping its own software platforms and saying it would use Microsoft's Windows Phone, hitting its shares.
Grab the opportunity to meet the who's who from the world of education. Join us for World Education Summit in New Delhi on 9-10th August 2018. It will be a wonderful occasion to explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter.