Unfortunately the company revered for introducing several iconic smartphones is cutting 300 IT jobs, while another 820 will be transferred to HCL Technologies and TATA Consultancy Services, according to reports from mobile website GSMArena.
The former mobile king has become the rut of the smartphone pack and their wallets show it. The last six months in particular have been gruesome for Nokia as:
- Microsoft picked HTC’s 8X as the Hero Windows Phone over Nokia’s Lumia 920;
- They were embroiled in controversy after the press uncovered alleged Lumia 920 video footage was actually captured by a DSLR camera;
- All three major credit rating agencies downgraded Nokia to Junk status. Their most recent results (Q3, 2012) revealed an operating loss of $US754 million on $US9.49 billion in net sales;
- They sold their own Finnish headquarters only to lease it back;
- They slashed 1,000 Finnish jobs and plan on relocating another 4,000 jobs to a Vietnam based factory.
Nokia claims the latest round of job cuts are part of Nokia’s focused strategy from last June. They plans on supporting employees affected by the reductions with some kind of financial package and by enrolling them into a Bridge support program, which will help them find jobs in relevant fields.