Now, Nokia might be looking into cutting some jobs
Nokia is the worldâ€™s largest manufacturer of mobile phones and are apparently doing pretty well. However, the latest news coming in from the company is that they are now aiming at redeploying hundreds of workers in its Enterprise Solutions Business and Networks business groups.
This might even include some job cuts as the company has seen their earnings not matching their own expectations. The market has also weakened a bit in the recent times leading to not so impressive growth for the mobile phone makers.
The company also added that they plan to increase R&D in emerging markets. However, this would mean that they would be decreasing the research and development work going on in their home market. This move is expected to affect as many as 200 workers in their Networks group and the company hopes to find them suitable jobs in other divisions.
Nokia also has plans to eliminate 90 positions in its Enterprise Solutions Business Group. They would be doing this by offering voluntary severance and the possibility for redeployment within the company where feasible.
The company is indeed reporting improving sales. However, increasing competition means that the profit margins on the mobile phone units is going down leading to low profits in the end.