TV News LIES

Monday, Jan 16th

Last update05:20:13 AM GMT

You are here News Economy Nokia Slashes 10,000 Jobs

Nokia Slashes 10,000 Jobs

E-mail Print PDF

Nokia cuts jobsNokia plans to cut one in five jobs at its global cellphone business as it loses market share to rivals Apple and Samsung and burns through cash, raising new fears over its future.

In a second profit warning in nine weeks, Nokia said on Thursday that its phone business would post a deeper-than-expected loss in the second quarter due to tougher competition.

Once the world's dominant mobile phone provider, Nokia was wrongfooted by the rise of smartphones and is struggling to keep up with Apple, Samsumg and Google. It is also losing market share in cheaper, more basic phones.

Chief Executive Stephen Elop is placing hopes of a turnaround on a new range of smartphones called Lumia, which use largely untried Microsoft Corp software. But Lumia sales have so far been slow, disappointing investors.

More...


Most Recent Related Stories...


Oxfam: Eight men are as rich as half the world

Oxfam : 8 men richer than half the worldThe gap between the super-rich and the poorest half of the world's population is starker than...

Jobless claims fall to near 43-year low

Jobless claims at 43 year lowThe number of Americans filing for unemployment benefits fell to near a 43 year-low last week,...

Amazon says it will create 100,000 full-time jobs in U.S. by 2018

AmazonAmazon will create 100,000 full-time jobs in the United States with full benefits over the next...

Macy's cutting 6,200 jobs, closing 68 stores

Macy's cutting 6,200 jobsAfter seeing sales drop during the holidays, Macy's said Wednesday it has either closed or will...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!