Nokia reduced 10,000 jobs as losses grow

Source: BBC
Nokia cut 10,000 jobs as losses in Q2 from its mobile operations are likely to be larger than initially estimated. The company also will implement structural changes worth about 1 billion Euros. The decision was difficult but it is the only way to ensure competitiveness in long-run, said Stephen Elop, the CEO of the company. Meanwhile, Nokia shares lost  about 70% since February last year.


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